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Harry Fotopoulos is a semi-retired accountant with a focus on income oriented portfolio strategies

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  • The Loonie And The SPX 1 comment
    Feb 18, 2013 4:50 PM | about stocks: SPY, DIA, QQQ

    In this weekend's article I alluded to the correlation between the Canadian dollar and stocks, and the worrisome breakdown in the former. The loonie has done a pretty good job tracking the SPX, and vice versa. Recently we have seen a significant divergence. Here they are plotted together on a chart:

    (click to enlarge)

    Time will tell if this divergence turns out to portend weakness for the stock market. I will be keeping an eye on it.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: SPY, DIA, QQQ
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  • Maverick Trader
    , contributor
    Comments (171) | Send Message
     
    That chart is not a coincidence, I believe it is very telling
    18 Feb 2013, 08:39 PM Reply Like
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