Quick Quad Market Reaction to North Korea News Aug 10
Thu, Aug 10, 3:51 PM ET, by Corey Rosenbloom
Continuing our thought process from this morning, let’s take a look at the snap-reactions and sudden price movement in our Quad-Market Grid.
We’re seeing Stocks plunge, collapsing to new swing lows and breaking Daily Chart support.
“Risk-OFF” safety assets like Gold (especially) and US Treasuries surged higher on the news.
The US Dollar – and Crude Oil (not seen) – remained flat and relatively motionless.
Keep in mind, markets anticipate future activities and sometimes headline news causes markets to snap one way or the other until the news is settled or “digested.”
Until we see otherwise, we’re seeing “Risk-Off” defensive behavior in our quad-market grid.
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Corey Rosenbloom, CMT
Afraid to Trade.com
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