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Good day to all.
I know this is Tuesday but i am still feeling blue. Somethings are just not right. Oh well, i know you did not sign up for this so given a choice of continuing being blue or to boast shamelessly . . . .
I LOVE IT WHEN MY CHART WORKS !
The similar technical pattern i noticed in a previous article did turn out to be valid! At least for now. The EUR/USD took a dive today towards 1.4000 like a runaway train.
The S&P 500 dropped below 1100 and the longer it stays below, the greater the risk of a sentiment break down towards 1080.
Oil is currently at $72+ . I am monitoring this closely. Any drop below $70 may indicate a break down of the current recovery.
Gold is now slightly below $1100 and likewise the longer it stays below, the greater the risk of a sentiment break down.
Going along the lines of “love is all around” , ” risk aversion is all around !”
China is curbing lending and speculative bubbles. Investors are apprehensive about not having a China led global recovery.
Something new came into my radar today. I was reading a report that Verizon is to cut more than 10 000 jobs after posting fourth- quarter sales that missed analysts’ estimates! A loss of 10 000 jobs in an economy already facing high unemployment rate will probably cause much damage to the sentiments. As more companies release their earnings reports and perhaps announce more cost cutting measures, we may see more risk aversion.
More releases tomorrow including the US New Home Sales. Watch out for unexpected results.
A bullish relief may bring us back to 1.4150.
Further bearish assault brings strong line 1.4000 to the iron sight.
I think i am getting old! Nowadays when practicing games like L4D2, the repeated mouse clicking actually causes my finger to ache. CAN YOU BELIEVE IT? Injury from prolong mouse usage. OMG.
Koalas, do remember to trade safely. It is rather indicative that a correction is underway and we will not know that a bottom has been made until it has! Do not end up like the most watched Forex funny video of 2009.
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