Friday, January 27, 2012

Market Update

So far the market seems tame, it is still early. However there are a few things worth noting...
 Since yesterday's reversal of the F_O_M_C knee jerk reaction, today thus far has formed a small consolidation pattern where it should be and volume confirms it. This is actually a bit more bearish then it first appears.

This is the SPY vs the Euro (red) and the Euro has taken off on a parabolic climb, the typical correlation would have seen the SPY move up with the Euro, it may still, but it hasn't thus far and even if it does, it's showing a significant lag.

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