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Tuesday, July 31, 2012

Tuesday, 7/31/12 update

Sell signals have popped up today in all the markets this author trades.

EUR/US$

AUD/US$

GOLD

SILVER

And, of course,

ES

This has been observed often in the past.  The explanation could be the value of the US$, but today the DX is up a little but not that strongly.  More likely the explanation is that which R.N. Elliott discussed: mass psychology.  So the bears are growling at the moment, could be down hard in U.S. equity markets for a bit.
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