S&P500 & Euro Positively Correlated
- Posted by JC Parets
- on October 26th, 2011
Are you looking for clues about the next big move in stock market? It might not be a bad idea to follow the Euro. Take a look at the correlation between $SPY and $FXE going back a little over a month (30-min timeframes):
Equities are ripping this morning, but Euro weakness is telling us that something might be wrong. Both $SPY and $FXE are running into former support from this summer. This support appears to be turning into a resistance for $FXE.
Will $SPY follow?
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He is a 10-year veteran and Market Technician who actively manages money incorporating Technical Analysis and Behavioral Finance into his practice. JC’s work has been featured regularly on CNBC, Fox Business, Bloomberg, Business News Network, Wall Street Journal and Yahoo Finance among many other financial media outlets. More...
- About That Breakout In The New York Stock Exchange Composite
- Audio: Benzinga Morning Radio Show 2-26-15
- My Favorite Gap And Go Setup in Real Time
- Free Talk At The New York Traders Expo
- Are Social Media Stocks About To Break Out?
- BNN Appearance: Internet Stocks & Natural Gas
- Here’s Why I Like Healthcare
- Video: Chart Requests From The Community
- Audio: Benzinga Morning Radio Show 2-19-15
- The Smart Money Loves Natural Gas Here!
Archive by Year