TRIN (Traders Index) in the US stock market shows that volume is still heavily skewed towards down stocks despite the rally in the index. The last time it was this extreme was at the kick off to the bear market of 2000-2003. EUR-USD retains a very bearish wave structure but only so long as 1.4578 holds as resistance.
Click here to read the full report:
http://www.easyforexnews.net/wp-content/uploads/2011/07/302649.pdf
HSBC Global Research