Art Cashin is one of the few person I like to listen on CNBC. He has over 50 years of floor experience and because of his experience he is one of the few left who have seen everything the market has done.
About an hour ago he said it was possible for the DOW yesterday to decline over 800 points (I am amazed at that) and had to really listen what is explanation was. Man he was dead on and he basically said the market is following the Euro/Dollar basically tick for tick. Art noted that any strength in the dollar will unravel us much lower which is in line to what I have been saying about a declining dollar would make market rise because of the devaluation of the dollar.
Art doesn't not believe this morning GDP numbers and I will be looking in the coming days how we really digest that number.
13 minutes in we are up but we will see how we do after lunch.
Talk to you later tonight.
MARKETJEDI
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- Charlotte, NC, United States
- Bring real information to the average person about the Financial markets. I am a technical trader that uses alot of technical tools such as Fibonacci, Bollinger Bands, MACD, TRINS, VIX to read the markets
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