June 10, 2012 DX flirted with breaking the big purple channel dating back to 1999, but in the end backed off as we expected. It’s clear from even a casual glance that DX has to choose between the big purple channel and the smaller one (yellow, dashed) cutting across its mid-section. Since reversing as expected … continue reading →
Tag Archives: DX
Many readers have been asking about oil. It’s not that I haven’t been interested, it’s just been a real bear to analyze. Here, after a dozen hours of racking my brain, is where I see it. Like many stock indices and currencies, Crude Light (CL) is at a critical stage. It reached 114.83 after breaking … continue reading →
Looking at the markets these past few days, I’m reminded of the prize that comes in a box of Cracker Jacks. Not a real prize, mind you — but one of those cheap little pictures where the image changes as you shift the angle from which you’re viewing it. It’s called a lenticular image. Despite … continue reading →
UPDATE: 10:30 AM Last night’s call on the dollar was timely. Check out the candle on the daily chart — the completion of both a Bat and Butterfly pattern. EURUSD also seems to have put in a bottom, though as mentioned earlier it’s going to take ein Akt des Bundestages (literally) to save the euro … continue reading →
Lots of updates posted here tonight: SPX, DJI, VIX, COMP, NYA, NDX, DX and EURUSD. Summary charts here, or check the index tabs under the MARKET tab in the MENU. I’ll have the rest of the indices and the metals posted later today. Each of these will typically be updated at least weekly, while I … continue reading →
Interesting setup on DX that happens to complement the SPX/COMP/NYA charts posted Monday afternoon. Check out the RSI trend line support. I’m inclined to believe the next several days will be very good for the dollar. For equities — not so much.Meanwhile, the EURUSD shows signs of finally breaking down. Both the pair and the … continue reading →