For FullyInformed Members here is the intraday chart analysis for the afternoon of Dec 3 2015 at 2:30 PM
Yesterday I wrote the Special Commentary for members in which I explained my concerns with the way the market looked. All it took was a bit of coaching from the ECB Mario Draghi who unveiled more stimulus today for the EU but fell short of what many had expected would be more aggressive. It was also the first time Draghi did not follow through on previous statements. This shot the Euro higher and meant a huge number of currency traders, who are short the Euro in the expectation that the US dollar will move higher after the Fed announces an expected Dec rate hike, had to cover positions. This sent the Euro soaring 2.9 percent in the morning and led to the equity sell-offs in most European stock markets which bled over to US and Canadian stocks………the rest of this strategy article is for FullyInformed Members.
Intraday Chart Analysis – Afternoon – Dec 3 2015
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