Portugal below support..One of the weakest markets right now
CHF/USD on support.Wait for the signal.
Dow Composite= sideways action on resistance. What is to come?
Euro Schatz… This chart pattern is being formed on the peak of an uptrend…. Definently not a bull flag and currently at resistance.
30-year treasuries QUARTERLY. Notice we closed above it last quarter, and this quarter will either confirm or signal a false breakout.
30-year Treasuries Monthly. Up, Down, ???
Us dollar Index/Gold Ratio= Similar to the usd/silver ratio…both tapes have broken resistance from its peak.
Now for the biggest paradox of the decade….the US Dollar Index. It is quite the mainstream consensus nowadays of its "toilet paper" value. Sure enough Big Ben is racking up the printing press and of course just look at the price action of silver and gold. What is interesting about this is that despite how much Bernank has supposedly printed, the dollar actually made a higher low since 2008 while gold and silver has skyrocketed….
This goes in line with Hugh Hendry's thesis that the Yen and Dollar can appreciate greatly due to the scarcity/decrease when asset values take a hit. Now combine this with both USD/GOLD and USD/SILVER both breaking resistance from its peaks….and you get a quite interesting dilemma to act upon as a trader.
What worries me both good and bad however….is not just the dollar index's strength despite the mainstream consensus of its value….but the quarterly chart for 30year treasuries. Last quarter's close was a massive signal of deflation to come….although we still need this quarter's close to confirm that..
As for now I remain neutral, scalping swings until the tape has clearly established what will be the next big trade.
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