Good Afternoon,

Were Bernanke's comments an excuse to carry through to the downside? Remember what I posted on Friday - a shockingly bad number can cause the markets to trend down for days (the opposite is true as well). Also remember, the markets usually react to economic data, especially the big daddy of them all: unemployment. We had a lot of bad data over the past week and finally, with the fed out of the picture (for the time being), we reacted to it (and in the correct direction). No more missing expectations on the jobs report (badly) and the markets rally (big). That is until the fed comes back in...

Before we go to the charts, webinar tomorrow evening and here is the link.

Good Morning I Guess,

Finally getting around to do some work.

The wrap-up: in normal markets, a terrible week of data culminating with a horrible jobs report would have the markets follow through to the downside on Monday and Tuesday. That would be expected, but as I have said many times before, these are not normal markets (see Federal Reserve policy)...

Good Afternoon,

Two out of three isn't bad.

DOUBLE FALL LINE TRADE in the EUR/USD and two BUFFALO BOUNCES, one in the GBP/USD and one in the EUR/USD (glad I cut my size due to the late timing of the last BUFFALO BOUNCE.

I think this selling pressure will continue tomorrow - let's see where initial claims comes in and I am guessing that no one will want to buy in front of Friday's number - puts to protect your portfolio anyone?

Here are the charts:...

Good Morning,

What goes up, must go down.

On the heels of terrible data yesterday (see CHIPM aka Chicago Purchasing Manager's Index and the new orders and employment index) and the home price index and consumer confidence - that's a lot of bad news!

Well, add to it today's ISM Manufacturing number (check out the new orders index and employment component). As I have been saying, I am interested in selling rallies. I was already short from Friday (I like to enter 3 day weekensds with some protection) and I was looking to cherry pick and get another "false rally" today before adding more protection prior to Thursday's...

On the daily US Dollar Index Futures chart, we observe that even though the Index reversed lower for the week, a major reversal higher in the US Dollar Index has begun