Thursday, July 26, 2012

Looking at currencies, best guess

Although as we saw overnight with Draghi's words, a lot can change over literally nothing (but it seems some were aware of what was to come as we had positive divergences that suggested we'd see more upside-it just wasn't AAPL bringing it to us), I'd say best guess is a gap up tomorrow in the a.m. that is faded to the downside, I suspect that will bring us back in to the down trend or pullback short term trend, I think this will be an ugly move, I think it has to be.

I waited on UVXY for signals that were worth taking, I suspect those will come in to play tomorrow. The question I have is whether the gap will be faded quickly and aggressively or we will see the typical "half and half" type of day.

Of course, as I said and Draghi showed us with literally nothing new, a lot can change overnight.



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