Stops are tripping off in size as the 1.2425 level is overcome. Looks like we’ve had our cathartic bottom.
The US data was so bad its good, if you assume more monetary easing will make a dimes worth of difference.
I don’t and even Bill Dudley doesn’t but Mr. Market has a full head of steam.
Look for buyers on dips now as the market tries to pare-back shorts. 1.2325 and 1.2365 are logic spots for bids to congregate.
