- Had expected a week of consolidation, which was correct, but before that we had yet some more extreme price action early in the week (Spanish bank rescue and funding difficulties, escalating Korean tension, EUR/USD to low of 1.2152) which I did not foresee and threw some of my plans off course.
- USDX : Up week in spite of overall consolidation in other markets. Truly a bull market.
- US10YY : Hammer-like candle = Pause in yield down move. Should trade higher now.
- S&P500 : As per US10YY hammer. Expecting this to go higher to form a right shoulder.
- Gold : After sharp pullback from 1249 to 1167, this now looks bullish again. Buy dips towards 1200.
- [Fitch downgraded Spain from AAA to AA+ at end of week. Think market a bit tired of watching same movie and reaction relatively muted compared that of recent weeks].
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