claydoctor

Oil bulls getting caught going long before their time

FX:EURUSD   Euro / U.S. Dollar
136 0 3
That is what you get when you try catching a falling knife. You get cut and bleed a little. Last time the buy the dip OIL             bulls got caught long, we had a big "V" in SPY             . I think it is happening now again, and we "V" again in SPY             , and if we get any rising rates talk next week at the FED mtg             , this V could get elongated, maybe more. The EURUSD             is just not done yet. Not calling a bottom for sure, but it is dragging down OIL             with it, not doubt about that. Just not sure if USDJPY             follows or goes inverse. Usually always inverse, and at "A" of the ABCD structures, USDJPY             and EURUSD             may become correlated, just a bit confused right now on that result, and other factors effecting that relationship.
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