Daily Reading on the Financial Markets: 10/22/11
Chris Kimble notes that the enormous bearish wick on the US Dollar’s weekly chart might mean “risk on” for the markets.
Despite what could be a technical break to the upside on Friday, Tony Pallotta at Macrostory continues to be skeptical, noting weak volume on advancing vs decline issues and elevated VIX.
At PragCap, Comstock Partners makes the case that at current levels equities are not cheap.
Zero Hedge points out that bearish sentiment in the Euro remains extremely high, providing gas to push risk assets higher as Euro shorts are squeezed.