The previous call about 5th wave has been wrong. Instead, we have entered something what could be called 3d minute wave, which seems to be about done. In any case the upside is capped by the 1.338.
Thursday, March 25, 2010
Wednesday, March 24, 2010
EUR/USD: Now, take a deep breadth
The EUR/USD move (toward 1.3406) this morning wasn't confirmed by other currencies neither precious metals. Looking closely at wave structure I consider the 1.34 as a very likely bottom of the 1st minute wave of 5th intermediate (1st primary). The target rage for the correction's end should be within 1.355-1.369.
Monday, March 15, 2010
More Secure, more treasuries
Wow, an average american has finally started to listen to the Fed:
U.S. households increased their holdings of Treasury securities to the highest level in at least two years, according to data released by the Federal Reserve on Thursday. Households held $795.2 billion in Treasurys at the end of the fourth quarter of 2009, up from $735.5 billion in the third quarter, as Americans continued to find U.S. debt an attractive investment amid continued uncertainty over the strength of the U.S. economic rebound and sovereign-debt problems abroad. That's the highest level of holdings in any quarter since at least the beginning of 2008, according to the flow of funds data. The Fed's household and nonprofit corporations sector include domestic hedge funds.That's sure we have a huge reserve of dry powder for the gov. bond market here. 60 billions of inflows during the quarter where SPX was climbing without any meaningful correction.
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