Another great looking chart pattern being formed. As per ED spread, a SHS top is very much evident for the FSS_M0/Z0 spread.- The 2 charts have different wave structures though. ED is a big double top whilst SS has been on a single wave upwards.
- Without crunching the numbers, I would expect that the 2 spreads to be pretty highly correlated on data of recent past.
- Already highly exposed to ED spread, so no action here. Still, its a great looking chart pattern. Pity.
- SHS objective is around 80. Last at 93 so might have missed the best entry points. Best to wait to sell on uptics. Little evidence of support until longer term UpTL at around 67.
- Euribor spreads on narrowing trend too.
- Between the 3, ED spread is the best short as the big double top makes it a surer bet.
07 October 2009
Short Sterling Spread : Another SHS Top
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