European (and Global) risk assets rallied as expected (although in a much more direct fashion), rising 14-17% in 7 trading sessions. I believe this sets the stage for a tradeable top for a good 7-8% correction into Christmas. I consider this to be a very high probability outcome.
This is a four hourly chart of the EuroSTOXX50, tracing out my projection. What happens after the correction lower is very interesting. My projection now is that we rally strongly in January and all the way into February.
This is a four hourly chart of Palladium, which I believe is about to fall hard. This will likely coincide with USD strength and Risk weakness for the next few trading sessions.
No comments:
Post a Comment