FOREX-Euro rebound stalls, focus shifts to EU summit – Reuters

Newswires May 21, 2012 2 Comments

FOREX-Euro rebound stalls, focus shifts to EU summit
Reuters
* Fails to break above Ichimoku tenkan line * Short-covering may lead market ahead of Wednesday's informal summit * Markets will be looking for change of policy stance in euro zone * Concerns about Spain, Greece keep euro under pressure * Dlr/yen may …
Asian Shares Rise; EU Summit Likely To Focus On Keeping Greece In Euro ZoneWall Street Journal

Euro rises from 4-month low against dollarThe Associated Press
Euro rises from a 4-month low vs dollar even as worries about Europe's debt …Washington Post
Zawya (registration) –Economic Times
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Still Looking for that Rigor Mortis Rally

Cycle screening measures screamed higher in a pattern similar to October-November 2020. That led to a breakout and long upleg. It doesn’t guarantee the same outcome here, but we need to be cognizant, and prepared for the possibility.

Fed Will Administer Volckera to Cure Inflation Pandemic, and We’ll All Die

The US economy is going gangbusters, but the Fed has created and is imminently facing the greatest crisis in its history.

Here’s the latest in this ongoing financial soap opera for the ages.

What the Signs of Emerging Gold Would Be

Subscribers, click here to download the report. Gold Cycles remain mixed with still no sign of an imminent breakout from the trading range. Here are…

No Mercy

I concluded last week that the small number of signals, particularly buy signals suggested that the rally was exhausted, despite the buys having the edge. I chose not to add any charts to the list, long or short, but held on to all of the shorts that had been on the list.

That looks to have been the correct judgement.

This week, I’m adding 5 more shorts to the list.

Don’t Be Surprised, or Fooled, By a Rigor Mortis Rally

Cycle screening measures screamed higher in a pattern similar to October-November 2020. That led to a breakout and long upleg. It doesn’t guarantee the same outcome here, but we need to be cognizant, and prepared for the possibility.