Crude oil quotes have bounced sharply off Wednesday’s lows, along with the Canadian and Australian dollar. This synchronicity suggests that something more than a garden-variety rally may be under way. In any event, Rick’s Picks subscribers who used my targets to get long near the lows in these vehicles should plan to swing for the fences after taking partial profits to cushion the risk. My hunch is that Friday will be a boring day, but that any trend in progress at the close will continue into next week.
Aussie Dollar and Loonie Sync with Crude
- January 21, 2016, 8:54 pm
CPCE numbers suggest (no fear) /Tick reading high daily close 2nd time on a lower high, and Breathe now in line with the early Oct/2008/2002 readings suggesting..much of what we have had to come and more in the hours ahead. The DXY is the same price as a year ago, in fact lower in many ways and the Indexes have fallen out of bed…some ‘safe haven’ carry trade…new one in play already.
Time for the big currency switch to be turn on…and go big red one way/ green the other.
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