29 October 2011

Benchmarks : Weekly Update

  • Stopped trading early in the week after the very positive reaction to Merkel/Sarkozy plan was announced over the previous weekend. General skepticism of plan from almost every news source trumped by price action.
  • USDX + SP500 : Mirror image of each other. SP500 has even penetrated the old SHS top NL at 1249. Completely blown away even the most high conviction of Risk Off scenarios.
  • US10YY : The only remaining Risk Off survivor. Chart still looks a sell (yield-wise), ie USTs a buy.
  • Gold : Another call gone badly wrong. Bear flag failure.

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