Trade Setups Using Inter-Market Relationships
A quiet fundamental week with claims and durable goods coming Thur/Fri.
Technically, we still have bullish equities (anyone having fun selling them?) and low VIX. A cautionary note: just because the VIX is low doesn't mean it is a buy. Remember, you have to have technical and fundamental reasons to make a trade and technical and fundamental reasons to manage the trade. Remember: markets can go "lower" and they can go "higher". Just because they are overbought or oversold doesn't mean they can't keep moving in that same direction. Case in point: AAPL. Bullish fundamentally (mostly) and technically too. In the overall markets, lets keep an eye on 1425 in SPX. After that, 1450 and finally just below the 1500 area. Wouldn't that be sweet to see 1500!!
Today in forex we saw another inter-market relationship trade with equities opening soft and the EUR/USD dipping, then equities climbing back and the EUR/USD climbing back. This led to a DOUBLE FALL LINE TRADE:
Past performance is not indicative of future results
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