Asia open holding up well. Asia is front running the US market. until we see a flip on Asia, otherwise do not expect anything dramatic on SPX. Cramer was right, if Oil, commodities are rallying, and Financials holding, SPX would continue to rally. Still SPX has unfinished business at the 200days mov avg.
As Geithner is in China 1-2 June, expect a good rally towards 930-940 coming Friday, next Monday to Tuesday. 200 days may be broken and SPX hug the 200 days for another month.
As crude official target allowed by OPEC is 80, expect Crude to inch towards 80. that would bring Euro towards 1.5000 and Gold breaking 1000.
The trigger may be the GDP today.
think the market is not going to give those who short Euro any breathing space, like those who shorted SPX. Euro is going to 1.5000.
BoA Meryll Lunch analyst Tenengauzer says on Bloomberg Euro would goto 1.200 by September, now Euro at 1.4100. seems like quite a lot of pple caught shorting Euro.
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- DollarProAragon
- Well, I am just an ordinary guy who happen to read tomorrow newspaper today. I used to be a forex trader with a major bank, managing the international forex desk. I have a MBA in Banking and Finance, and currently pursuing a PHD with a Ivy League on international capital flows. I provide consulting assignment to financial institutions and run my consultancies to private clients with focus on forex, commodities (Gold, Silver, Platinum, Palladium, Copper). Since 2007, I have been consulted various corporation on their money market operations in China.
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