Well the news is out. U.S. Economy Posts Sharpest Downturn on Record, says the Wall Street Journal. “The U.S. economy contracted at a record 32.9% annual…
More of the same, and the skies are not cloudy all day.
Then it’s the trader’s enema. Trading ranges are meat grinders. The edges are often not well defined.
Influences on USD include trade flows, including tourism, Financial flows, and pure trading flows. I’ve often wondered which is dominant.
Normally this time of year Americans are selling dollars and buying euros heavily because of travel. More Ame…
UPDATE 10 AM ET
Whiplash! The early selling was a shakeout.
The signs of hope that a few analysts have noted in recent days are based on questionable data.
Update 10:40 AM ET
Edging closer to failed buy signals here. Could signal a crash if they break 3189.
2:45 PM ET I’d call a low here but indicators are crashing. Here’s what should happen.
I was so stunned by what I saw yesterday that I wanted to break it to everyone right now.
The withholding tax data for July through July 20, showed a 5% year to year GAIN!
Stocks pulled back this morning in the pre market, reaching trend support and a 2-3 day cycle projection of 3228.
Hourly indicators are still bearish, but have reached the levels of their last minor lows.
An obvious place for them to buy the dip again.