Monday, August 2, 2010

A Technical Look at the Markets

Stockmarket 618 writes:

New DOW monthly chart gives us...important
support around 9700.


The March 2009 lows will not hold as long term trends remain
bearish. Other global equity indexes are similar.

EURUSD daily chart is bullish. Weekly chart is bullish to neutral.
Monthly chart is bearish. Opposite applies for the USD Index.

CRUDE OIL daily chart is neutral to bullish. Weekly chart is neutral.
Monthly chart is neutral.

COPPER daily chart is bullish. Weekly chart is neutral.
Monthly chart is neutral. Copper long term charts have not
been bullish for some time – warning what’s ahead for the
global economy.


  1. March lows? What the heck are you smoking? The market is rocketing higher, mate. Nothing stopping it.

  2. Dear my humble opinion, smoking substance is not relevant. The ratio of sugar and water in the Kool-aid concoction is relevant.

    You might take a few minutes and analyze trading volumes during the prior 3 months as the pattern of the market selling on higher volume and the market launching when only Cramer and the Fast Money buffoons are trading continues.

    Don't take my word for it, however you might opt to format the spreadsheet before the next batch of Kool-aid as increased volume will impact the direction of the market.

    Once the HFT gamers sense the herd has turned, they will pull all bids and Flash Crash II will be at a theatre near you..Good Luck but be very careful with the small herd of bulls as they will turn on you!