Thursday, May 5, 2011

Be Back the 16th

Stocks appear to be undergoing the pullback I've been suspecting the past two days and the euro has declined sharply while remaining shy of new high on the weekly charts, and doing so just after an overbought and diverging RSI took place.  Tops appear to be in place in both stocks and the euro.  Not sure to what degree these tops are as of yet, but tops nonethless.  I'd favor the short side in the next few days.

I'm taking time off from the markets.  I'll be back the 16th.  Good luck all!!


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