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Here's an update of my "S&P as seen from across the pond"
chart (SPX x cash dollar index) ...clears up a lot of mud on the dollar
based charts in my mind anyway.
I am not as $$ bearish as some, still thing the euro has
another big leg down...so at this hour I tend to think the spread is in a
C wave, to be followed by another run to new highs. Does not mean that
stocks will go to new highs though. The more bearish view is that there
were w5 failures on lots of dollar based charts, while w5 ex-dollar the w5s went
to new highs.
The politics in Europe in a recession are going to
be REALLY interesting to watch.
We'll see.
Chris
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