Wednesday, June 15, 2011

FTSE may lead SPX lower

Watch FTSE for leading signals. It is gaining momentum to break the upward trend line. SPX may follow later.
Oil also abruptly got sold off today, testing the 200 day MA. If goes below, all risk assets sale signal will be trigered.
USD rallied against all majors today. Especially the rally against JPY in the face of dropping rates signals that the market is  extremly nervous on the Greece debt roll over issue. 2yr Treasury registered a dead cross, more downward movement is expected.



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