An interesting turn of events today with a big new event from the ECB. Primary Indicator #2 reversed course, with the black needle leading the grey needle back toward the red zone. The Very Short Term indicator has spiked and the leading directional indicator has remained negative. If we have another strongly bullish day tomorrow I think the leading directional indicator might turn back to the bullish side. I learned several years ago that you should not fight the Fed when they make groundbreaking announcements; can the same be said for an ECB that actually punishes investors for buying bonds with a negative interest rate? Probably.
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