Fri July 1

Equity rally clearly didn’t finish on June 30 as I thought and
the overextension is now EXTREME.

Extreme overextension from recent rally should result in
significant retracement.

USDCAD long 0.9611 [c 0.9595]

USDCHF long 0.8435 [c 0.8455]

NZDCAD short 0.7952 [c 0.7958]

USDCHF and EURCHF basing on daily chart continues and more
upside expected.

EURCHF long 1.2197 [c 1.2253]
AUDUSD short 1.0694 [c 1.0700]

Now quarter end equity rally has presumably ended, EURUSD etc
overdue retracement can begin. Recent DOW/SP500 candles indicate
recent rally involved significant short covering.

Originally posted Feb 16, 2011 and my opinion has not changed:
When DOW/S&P500 correction gathers momentum, I expect:
UP ~ USD, various USDXXX currencies, VIX Index
DOWN ~ EURUSD, AUDUSD, NZDUSD, GOLD/SILVER, Base metals like
COPPER etc, CRUDE OIL.

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I read comments but they're not published. Troll IPs are automatically trashed. [crinia AT gmail DOT com]

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