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Quick Note on Today's Price Action

June 04, 2012
The euro briefly poked through the $1.25 level, but has run out of steam.  It completed a 61.8% retracement of the losses since the last correction ran out of steam on May 28th near $1.2625.   On the short-term momentum studies I use for intraday movement, there are bearish divergences emerging.  There is initial potential toward $1.2450.  
That s…
Quick Note on Today's Price Action Quick Note on Today's Price Action Reviewed by Marc Chandler on June 04, 2012 Rating: 5
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Spain and Banking Union

June 04, 2012
Reports suggest that Spain is coming under increasing political pressure to seek assistance. Yet the stigma is too much and Spanish officials recognize that if asks for assistance, many investors will conclude that the country is insolvent and would aggravate the economic and financial pressure it is already facing.
Instead Spain has a two-prong…
Spain and Banking Union Spain and Banking Union Reviewed by Marc Chandler on June 04, 2012 Rating: 5
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Beware The New STD: Sovereign Transmitted Debt Beware The New STD: Sovereign Transmitted Debt Reviewed by Marc Chandler on June 04, 2012 Rating: 5
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Six Observations to Start the Week

June 04, 2012
The US dollar is little changed against the major foreign currencies and showing a slightly heavier bias against many of the emerging market currencies. The dollar is largely trading within the ranges seen last Friday, with the holiday in the UK (today and tomorrow) sapping some liquidity. Asian equity markets are broadly lower, with the MSCI A…
Six Observations to Start the Week Six Observations to Start the Week Reviewed by Marc Chandler on June 04, 2012 Rating: 5
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Commitment of Traders Report and Technical Outlook

June 02, 2012
The latest Commitment of Traders report covers the week ending May 29.  Generally speaking non-commercial participants in the futures market were dollar buyers, either by adding to net short foreign currency positions, such as the euro and Australian dollar, or by reducing net long positions, as was the case in sterling and the Canadian dollar.  …
Commitment of Traders Report and Technical Outlook Commitment of Traders Report and Technical Outlook Reviewed by Marc Chandler on June 02, 2012 Rating: 5
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