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VIX, Oil, BRICS & Sterling's Sell-Appeal
BRICS equity indices fail at key fib retracements, VIX and oil near major trend lines and sterling's sell-appeal hasn't looked this good in a while.
Ashraf
Today I initiate my new short in DOW future at 10260.Previously my SP fut stop triggered at1098. In this short I ready to see 200 points more in upside but i spot the target at around 9840 minimum. Can I have your suggetion please. I know in near term you are bearish in stock market but I am asking it again coz market already in a new year high. I also short CAC future first time in my life at 3810.
Regards,
Rajib.
i definitely am a believer of it as it seems to work well in markets. i mean who was bullish on stocks early 2009? the markets seem to catch people by surprise quite often. its all about converting bulls from bears and vis a vis etc its a cycle. once overly bullish/bearish the market becomes saturated with bears/bulls, the momentum runs out of steam and investors start to think twice...bingo a reversal comes about. nothing ever goes in a straight line as we all know.
one thing we do know is that interest rates will be going up around the world and stimuluse will be lifted. this would negatively impact stocks and benefit the dollar as the carry trade rapidly unwinds.
Ashraf
based on average forecasts over next 12 months dollar index seems to have already formed a bottom at 75ish ?
but based on forecasts being not dollar optimistic as a whole, it could lead to a greater run for the dollar.
That tells you every thing about the market sentiment towards the USD.
daily chart shows that the pair is in range market.
4 hours chart
Resistance 135.60 136 138.5
Support 132.7 131.50