I looked at about 5 of these banks that trade in the US yesterday and didn't see anything in those 5 that looked bullish, in fact they seemed bearish looking to me.
This morning the Dollar is up against the Euro and this chart suggests that there may have been accumulation in the dollar for sometime. If this chart is correct, then UUP would be a decent long and if the results of the stress test are poor and UUP may be an indication of that, then it should perform even better. We'll know soon enough.
1 comment:
Brandt,
Just for raising some thoughts, this is sort of expected layout assuming your 3C is closely following the A/D of institutional players in the market, meaning too obvious.
Recently got across one chart at Goldseek site(http://news.goldseek.com/GoldSeek/1279904400.php) which depicts the level of liquidities in the market (don't have data source though which is said from bloomberg, guess it's from bloomberg terminal?).
Interestiing thing is, it explains lots of market movement very precisely, the bottom in Oct 2008, Mar 2009, and as recent as Feb and Jun this year. From late Jun it began to pick up and market changed mood from melt down potential to something else where we are.
What bothers me here is its recent uptrend in liquidity does not seem to go a long well with this picture. May this bode dollar up and market up? Too ostensive to be trustworthy? No idea...
Post a Comment