I am feeling hopelessly behind on comments – 36 hours – so I might just decide to cut myself loose and accept the fact I'm not going to get a chance to read them. Busy, busy, busy……………………
One very interesting thing I've noticed is how the EUR/USD is starting to decouple from the equity markets. Look at the graph below: notice how the EUR/USD (shown in blue) used to be joined at the hip to the /ES (shown in black). Over about the past week, though, these two don't seem to be even on speaking terms.
My tin-foil hat theory is that the /ES is a much easier market to manipulate than the tremendously large foreign currency market, so the "truth" is tied more closely to EUR/USD than our friend /ES. One will have to catch up with the other, I think, eventually.
