Euro Move

The financial media are picking up on that Euro spike I mentioned as it wa just breaking out. 


The ONLY news to come out of Europe is from the WSJ with an article about the inevitable bank runs in Sapin, this time on  Banco Santander, this is NOT a Euro positive event, yet the Euro runs higher. The assumption is that there's stop hunting going on, however as you know, we've found the action in the Euro to be of interest, the first post when I noticed the 3C underlying action (bullish action even as the Euro was still falling) was to ask the question, "Does someone know something we don't yet?" , ever since then the Euro has improved until it looks like this...

The breakout move I mentioned this morning that I didn't even think would come today.


Now for some assumptions, if the Euro stays around this level over the weekend or is higher, the market correlation which is very low right now, would almost certainly pop up to revert to the mean.


Stop hunting? Or has this strange set of events lasting this entire week been about something bigger?