Emini Trading Update – Wednesday 27 Mar 2013 (15:36)
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More confirmation today with Bonds breaking above daily resistance into an uptrend. Plus the US Dollar is breaking to new highs and the Euro falling. We have capital flight out of Europe, UK and Japan into the safety of US Bonds (and to some extent US Equities).
I know, I sound like a broken record. But Europe appears to be falling apart at the seams: a collapse of the banking system precipitated by sovereign debt defaults in periphery countries. The European bureaucrats are madly papering over the embarrassment. It would be funny, if it weren’t so sad.
For the moment, US Equities appear to be a beneficiary of the storm brewing. For me the question is can they de-couple from Equity weakness in Europe. I doubt it, but it’ll be a slow realisation.
Meanwhile, check where and with whom you bank. You are now in business with your banker. Do you really know what he is up to?
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