Not Quite Stable Yet
Was today's action enough to at least bring some stability into equities? With two more big economic data points surrounding the jobs market coming out this week, I think it is tough to make that assertion. The action today is one that many technicians and traders would often buy. We've had increasing volume over the last four days leading up to today, which not only finished in the green but was also at a higher volume. The last time we approached a daily volume of this magnitude was during the March lows.
One other encouraging sign was seeing the long-dated U.S. Treasuries and Swiss franc go out near their lows of the day. Suddenly, the euro isn't quite as important, and the U.S. dollar is once again forgotten. For now, I've put the U.S. dollar position on the sideline and sold out of it today at a loss....320 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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