This Could Be The Most Powerful “Global Sell Signal” In A Generation
October 8th, 2012
Is It Time To Get Bearish?
A must-see report from a top technical trader
Now, I’m not in the ‘end of the world’ camp. Far from it. But my friend and excellent technician Richard Ross put out a note Friday that brought up some interesting points.
Ross thinks that a Euro breakdown here could, “Generate the most powerful ‘Global Sell Signal’ of our generation” (speaking of scaring the hell out of people).
We still don’t know that the Euro will complete the potential head & shoulders top formation. But we do know that this currency is a majority component of the US Dollar Index. We also know that the Dollar and Stocks have been mostly negatively correlated for years. But can the correlation change? Sure. Can the Euro hold that support and make this conversation meaningless? Sure. Is it important to recognize the possibilities and potential consequences of a breakdown in the Euro? You betcha. And this is regardless of how high you think $AAPL goes or how great that drug might be for your biotech stock.