Monday, February 28, 2011
Sunday, February 27, 2011
Friday, February 25, 2011
Thursday, February 24, 2011
Wednesday, February 23, 2011
Monday, February 21, 2011
NXY Up Pattern Gap
NXY just needs an R-squared saucer to get a MTI Buy on the Daily Chart (top chart). The weekly chart is in Stage 2 (above the 30 week MA). NXY already broke out (with good volume) from the equivolume consolidative box on the lower daily chart. This was in conjuction with a price rise above the upper EMA Envelope. The last price box is a square though. Will see Tuesday morning...
Sunday, February 20, 2011
US Long Bond RABFA
Lifted this chart off Daneric's site. A bottoming of the Consensus Bond Bullish % sometimes results in sideways rather than upwards price movement. The Long Term Bond has formed a Right Angle Broadening Formation Ascending pattern. According to Bulkowski, this is a bearish pattern, that breaks downwards 63% of the time.
Saturday, February 19, 2011
Began Nibbling at TMV
Price is now above upper MA Envelope and Chaikin Money Flow still looks good (top chart). Just snacking for now...May get 2-3 more down days to lower Bollinger Band & then up (bottom chart)...(like Nov 22-29)
Thursday, February 17, 2011
Waiting for TMV Reentry
Top chart displays weekly stops. Weekly price penetrated the lower yellow curvilinear trendline. The middle chart is busy because it transposes the weekly stops and adds in stops that hug the straight trendlines. The latter are associated with CCIs>100. TMV is currently in a consolidative price decline (3rd Red Arrow in association with an absolute CCI<100, declining volume and parrallel declining Aroon lines). The two prior declines ended just below the lower 30 day Moving Average Envelope (lower blue line). The CCI then needs to turn back up through 100 on high volume to get a buy signal. The bottom chart was just posted by Daneric. If Wave 5 is complete, then it will be a longer wait.
Tuesday, February 15, 2011
SHY:$USD & Stephen L. Bernard OF DOW JONES NEWSWIRES
By Stephen L. Bernard
Of DOW JONES NEWSWIRES
NEW YORK (Dow Jones)--The dollar rose to its highest level in nearly two months against the Japanese yen Tuesday as traders remained upbeat about U.S. economic growth despite a disappointing report on retail sales.
The pound was among the best-performing currencies on the day after the latest U.K. inflation reading bolstered expectations for an interest-rate hike in the coming months. The euro traded in a volatile but tight range throughout the day after news that gross domestic product in the 17-nation bloc rose 0.3% quarter-over-quarter, matching the pace seen in the third quarter.
Traders largely brushed aside news that U.S. retail sales rose by 0.3% in January, only half of what economists had expected. Major snowstorms across much of the country last month likely kept shoppers at home. Fundamentals for growth in the U.S. economy remain in place despite the temporary slowdown in retail sales growth, analysts said.
"The market's inclination is to give the economy the benefit of the doubt, and the latest numbers will probably not change views that GDP can still register growth close to 4% in Q1," said Alan Ruskin, head of G-10 foreign exchange strategy at Deutsche Bank in New York.
Signs of growth make the dollar more attractive than Japan's yen because that puts upward pressure on U.S. bond yields, increasing the greenback's appeal, as investors anticipate the Federal Reserve will start to raise interest rates from near zero long before Japan.
The dollar hit a high of Y83.93 Tuesday, its highest level since Dec. 20. The dollar has steadily gained on the yen recently as two-year U.S. Treasury yields have risen.
Late Tuesday, the euro was at $1.3485 from about $1.3488 late Monday, according to EBS via CQG. The dollar was at Y83.78 from Y83.34, while the euro was at Y113.00 from Y112.43.
The U.K. pound was at $1.6124 from $1.6043. The dollar was at CHF0.9671 from CHF0.9702.
The ICE Dollar Index, which tracks the U.S. dollar against a trade-weighted basket of currencies, was at 78.602 from about 78.591.
Though traders are growing more optimistic about the U.S. economy, which helped the dollar against the yen, expectations for interest-rate hikes in Europe remain a primary consideration. Market participants don't expect the U.S. or Japan to raise rates anytime soon, so traders continue to bid up currencies where rate hikes are expected in the coming months.
Monday, February 14, 2011
Sunday, February 13, 2011
Saturday, February 12, 2011
Friday, February 11, 2011
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