Haven't we been moving up as the dollar dropped,
Now the dollar is strengthening and then stocks move down
Nonetheless I think the market has overreacted (human nature) with regards to rate hikes
Fed will not hike rates, but as the market had priced in a rate cut, which also is unlikely, it seems fair enough with this correction
Draw a vertical line down your chart when ECB and Bank of Japan have hiked rates and you will see serious technical damage
even though we all know it is coming the damage will be repeated
and we all know Bank of Japan and ECB will hike later this year - things will get worse this year
But 2008 should be good (don't forget armstrong cycle)
bears need further strengthening of dollar
Started by
relax
, Jun 09 2007 08:29 AM
2 replies to this topic
#1
Posted 09 June 2007 - 08:29 AM
#2
Posted 09 June 2007 - 10:35 AM
Bears need something!!! hehehehe
That said i may or may not go short next week. Just depends whats happening.
Observer
The future is 90% present and 10% vision.
The future is 90% present and 10% vision.
#3
Posted 09 June 2007 - 11:10 AM
the bears need some fuel
just like the bulls do
the bulls got their shine friday, but currently bears have the upper hand
Resistance levels will not be broken
What last week make even clearer for us is that interest rates are key
so any strong data should be negative for the bulls, just as high inflation as always will be bad for the bulls
For the dow 13509 is 50 per cent of the move down from the high of 13.768 to the low of 13.250 (not sure if this is the exact figure) - I am keeping an eye on this level
Right now we almost had the 0.382 retracement, which is at 13.447
But rate hike from bank of japan makes a collapse in stock prices inevitable
just like the bulls do
the bulls got their shine friday, but currently bears have the upper hand
Resistance levels will not be broken
What last week make even clearer for us is that interest rates are key
so any strong data should be negative for the bulls, just as high inflation as always will be bad for the bulls
For the dow 13509 is 50 per cent of the move down from the high of 13.768 to the low of 13.250 (not sure if this is the exact figure) - I am keeping an eye on this level
Right now we almost had the 0.382 retracement, which is at 13.447
But rate hike from bank of japan makes a collapse in stock prices inevitable
Bears need something!!! hehehehe
That said i may or may not go short next week. Just depends whats happening.