There was a little delay, but the positive correlation between the Euro the US stocks remains in place.
The Euro ETF (FXE) bottomed on June 29 and SPY bottomed two days later. FXE surged in early July and SPY followed the Euro high the second week of July.
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The Euro ETF (FXE) bottomed on June 29 and SPY bottomed two days later. FXE surged in early July and SPY followed the Euro high the second week of July.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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