The collision of global markets and social mood

Monday, March 18, 2013


Regarding the bank deposit confiscation news from Cyprus, I thought Drudge Report nailed it today with this image. Germany is taking the blame instead of the EU.

Financial markets strongly dislike large moves in the much larger currency markets. Today there are gaps galore across the major FX pairs. It does not appear as though the moves are over. It should be a volatile few days at least.

It does appear that the pullbacks, thus far, are corrective. It's too soon to tell.

For the S&P, I still view 1525.34 as the bull/bear line. 1533 is trend line support coinciding with a 38% Fibonacci buy retracement.

While the EU confiscation is no accident, I finally had one.

For the first time in all the road trips I've ever done I had a small fender bender. There was little damage, no injuries, and I wasn't at fault. But it has postponed my trip for a bit.

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