I believe the previous three posts of the 10 yr, Eur/Dol, and Crude will show the short term direction....
As the Dollar strengthens pressure will be put on Crude, Eur/Dol, & the 10 yr note.
Ask yourself a few questions:
- Is a strong dollar GOOD for the overall global economy or just the US?
- Why is the dollar getting stronger?
- Could other countries be getting weaker by cutting rates such as the ECB?
- How will it affect PRICE in the US market short-term/long-term?
- If US consumers are strapped for cash and global markets are following the US in economic cycle, what does this say about the strength of the GLOBAL economy?
Point being who is buying? I'm finding it difficult to find customers in any segment anywhere with true motivation to BUY.
The weekly chart of Crude shows the channel lines in play with a lower Fibonacci level at $42.88.
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