Thursday, November 18, 2010

Euro and the SP

For the first time in a long time the SP and the Euro are not working in tandem. The Euro DID have a big night up but has been coming off since the NY open, as has the Yen, yet SP's have been of course on a tear. TY GM , Ben B et al. How long does this key correlation of the risk trade continue to diverge? This occurred during the period  just  preceding the SP high as well.
 SP Dec Hourly
click to enlarge

Euro Dec Hourly
click to enlarge
Note the SP's have reached the 50% retrace of the move down.

No comments:

Post a Comment