Weekly Update

It's all about liquidity here. The FX Weathervane is showing us whether liquidity is entering or leaving the market.

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The moving average is positive for the first time since June 29.

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Cracks in the Facade

The NDX beast is mortal!
Today only - the video discussion is in front of the paywall.


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Here's a slower moving average on the FX Weathervane data. It shows the deterioration in liquidity in recent weeks.

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Finally!

Afternoon weakness looks to end this standoff between horrendous breadth readings and reasonable momentum. The bears will win this one.

 

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click chart to enlarge

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