Thursday, January 22, 2015

Screen Shot 2015-01-21 at 8.53.46 PMQUICK UPDATE: Tomorrow’s ECB QE announcement has been well telegraphed, and the number is expected to be around 50 billion euros a month. While this would typically shoot the euro lower, this time around would support a “buy the news” event, as the euro has become crowded enough to create a short squeeze opportunity. The TD counts also support this notion. The weekly EUR/USD (shown) has been recording 13’s and last week’s bar notched a TD Buy Countdown @13. For timeframe comparison, the monthly EUR/USD is on a ‘perfected’ TD Buy Setup @8 and it recorded a TD Buy Countdown @13 last month. For the SPX index, both the short term and the short/intermediate term are now neutral.


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