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Gary Tanashian
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Gary Tanashian is proprietor of and Actionable, hype-free technical, macro economic and sentiment analysis is provided in the premium market report 'Notes From the Rabbit Hole' ( Complimentary analysis and commentary is available at the... More
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  • FXI Still Indicating Bearish Things 0 comments
    Jan 21, 2010 1:24 PM | about stocks: FXI, FXP, DIA, SPY, QQQ

    As this topping pattern has persisted, I have continued to exercise the most patience I ever have with a short position. Look at the beautiful series of lower highs and lower lows.

    I had no sooner published an article stating bearish technicals on this pig when FXI exploded higher on Tuesday on whatever the hype du jour was. Now, all is right with the world. Oh, and it seems as though another pig is getting in line with the message as well.

    Yes, all is right as of noon today at least. Markets are shaking off the dullness of Hope '09 come Full Hubris '10.

    Disclosure: I own FXP

    Stocks: FXI, FXP, DIA, SPY, QQQ
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