Market Update – June 10

Market Update – June 10

Stephen Roach, former Morgan Stanley economist and currently employed by Yale, published A Crash in the Dollar Is Coming yesterday. He may be correct but these types of articles are usually published at near term price extremes (in this case a USD low). Technically, this is the perfect spot (December low) for a bounce. Also, DXY made a slight new low today but EURUSD did not make a new high. This non-confirmation is typical at turns. Back to 98.27 or so wouldn’t be a surprise. Finally, consider the extreme short term sentiment readings (DSI readings from Monday) in front of FOMC on Wednesday. The narrative heading into FOMC is that there is no limit to the Fed’s balance sheet. What else can they say that would ‘surprise’ markets in that direction? Risk for tomorrow seems like a classic ‘sell the news’ event.

Market Update – June 5

Market Update – June 5

QQQ traded to an all-time high on Wednesday and at today’s open before ending the day down slightly. It’s interesting that the Nasdaq Composite and Nasdaq futures have not traded all-time highs yet. S&Ps have not either. I’m not sure if this non-confirmation means anything. Time will tell. 223.94 is still seen as an important level (call it the ‘breakage’ point) but weakness under the lower diagonal line (lower magenta line) near 230 would be enough for me to suggest that the uptrend has broken.

How one charity connects with people during the COVID pandemic

How one charity connects with people during the COVID pandemic

Even islands in the Caribbean faced lockdown orders in the face of COVID. Without face-to-face contact, Bow Sailing took their work online to meet the locals’ needs. If you’ve ever spent time with kids, you know how difficult it can be to catch their attention for even a few minutes. Bow Sailing leaned on the…