by Desihedge at Zerohedge.comWhat a rally, the RISK is ON – I got two words: SHORT SQUEEZE! As mentioned in previous June analysis that a close above 10288 on Dow will open room for further rally. There is still a 2% to 5% more room for risk to go up, before stopping for a breath and then to reverse. AUD has recently shown very strong correlation to equity markets and it did not stop at its 200DMA to take a breath, just goes to show how strong the squeeze has been on DJI, AUD, SPX, you name the risk and it has been rallying……
Alright, enough of narrative, lets get to the charts. (more)
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