Friday June 9, 2006 - 10:34:24 GMT
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Black Swan Capital - www.blackswantrading.com
Short-term fear peak?
The dollar seemed to benefit in the form of safe haven flow yesterdayâ€”evidenced by US bonds rallying in the midst of the plunge almost everywhere else. But, did we see a short-term peak in fear evidenced by the key day reversal in stocks?
If so, maybe the dollar gives something back. It has been moving in tandemâ€”negative correlationâ€”with stocks. I.E. lower stocks higher dollar and vice versa. The chart below shows the S&P 500 Index vs. US Index (Inverted so that you can see the similar undulations of late):
Maybeâ€¦240-min chart of the US $ Index belowâ€¦
Jack Crooks, Black Swan Capital Black Swan Subscription-based Service
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