This Week With Tradersaudio's Lichtenstein: Opportunity in the Euro and Slow Grind Upward for the S&P




Choice quotes from our weekly discussion with Ben Lichtenstein, president of TradersAudio.com.

"I think for the most part, we've been trending to the upside. It's a slow grind higher in a low interest rate environment. I think this could continue for a very long time."

"There is potential for the fade to work here -- but you're basically talking about some sort of a "V"-top. For the most part, markets don't make "V"-tops or "V"-bottoms. They do occur, but for the most part, you'll see some sort of a balance formed near the top and an upper test. There has really been no balance near this high."

"If you're leaning on the short-side type trade, thinking that you caught the high, you better be quick -- there is potential for new highs any moment."

"We've been seeing very low volume, very low momentum, very low energy. I think that gives the bears some sort of ground to stand on, but there is very little."

"I'm looking at the euro currency this morning, which is right at that lower extreme of that balance that has been forming over the last ten days right now, back at the 1.3040 level. I think there is opportunity there for a trade -- certainly heightened awareness; I have my eye on that."

"I think a lot of traders are out there saying basically 'status quo' after Bernanke's comments."


Posted in: Ben Lichtenstein

 

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