From this perspective, yesterday's powerful sell-off will prove to be the last bear trap before the real blowoff commences.
Food for thought.
Friday, June 22, 2012
SPX/FXA Analog Update
Similar to adapting the current tape to market cycle work or Elliot Wave Theory, fitting analogs - especially longer timeframe analogs - is a moving target. Here is a somewhat more compressed overlay of the SPX analog to the Australian Dollar. Interestingly, this is how I originally fit them in late May (see Here).
From this perspective, yesterday's powerful sell-off will prove to be the last bear trap before the real blowoff commences.
Food for thought.
From this perspective, yesterday's powerful sell-off will prove to be the last bear trap before the real blowoff commences.
Food for thought.
