Monday, September 19, 2011

Like I said, "Watch the Euro"

If no headlines are coming out of Greece, fine, but the Euro should give a hint as far as what to expect in the market. A strong Euro makes for a weak dollar which is positive for the equity markets.

Take a look at the Euro
The EUR/$USD seems to be trying to break out of this consolidation, which should create some buying pressure in equities.


Furthermore, the TICK Chart is in a gentle uptrend, I would suspect it will go more parabolic on a breakout.
NYSE TICK chart.

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