Platinum (weekly info)-no change (below mid)
trend=no
direction=down (1 bar)
low= 1677.60
rev= 1865.50; mid= 1771.55
Platinum has been trying to make a clean break above its 61.8% retrace (1716.65) but keeps pulling back to it. It's been stuck in a $400 range since May 2010. Trying to at least get back above its weekly 3LB mid this week. It's above all SMA's.
Rough Rice (weekly info)-no change (above mid)
trend=no
direction=down (1 bar)
low= 12.90
rev= 15.89; mid= 14.40
Last week Rough Rice closed above its weekly 3LB mid and is now trading above its weekly 3LB reversal price this week. It's above all SMA's. It's also above its 38.2% minor retrace (15.92). Asian citizens are about to get pissed off…again. Expect more riots soon.
DXY (weekly info)-no change (above mid)
trend=no
direction=up (1 bar)
high= 75.76
rev= 72.93; mid= 74.35
The dollar did all it could to get above its 61.8% minor retrace (76.49) but has failed miserably. It's back below its 38.2% minor retrace (75.10) which is also the monthly 3LB mid. It's testing the SMA(21) and it has held so far. You'll also notice that the SMA(55) has crossed below the SMA(89) and SMA(233) back in June 2011.
~~~~~~~~~~~
S&P500 Short Term Update from AT:
This update is a little more general in nature but sticks to the same themes. Will do a Metals Commentary this evening before heading for another family weekend.
SP500 Short Term Update 13JUL11
17 comments:
Moody's Schmoodies. Pfft.
Gold the final frontier.
July 4th was on a Monday last week. Initial Claims are ALWAYS better following weeks with holidays.
Yawn, the golf is on...
Today is turning into a compressed version of yesterday.
Hmmm appears the move to bring gold down is ongoing. Getting a little too close to 1600 for their taste.
How's the 30yr auction going? Considering the current move down I'm thinking it was undersubscribed. Who wants to hold for 30 years?
BB testifying that the FOMC isn't planning another QE anytime soon has spooked the market.
30yr auction:
Bid to cover 2.80
HY 4.198%
PD 40.28%
DB 21.93%
IB 37.79%
SPX back to testing its monthly 3LB mid...
Andy T
Thanks for the S&P update.
SPX now has a daily 3LB reversal down (below 1307.41).
Bears have broken through the barricades protecting the bulls and are feasting.
The bulls overseer is out with the shotgun chasing off the bears.
Thanks for the play by play AmenRa.
May be a slow day but there are many of us who still watch every day to see what happens here.
All you guys give great perspective.
Thanks!
Golf...a game in intransition. The 20 something athlete taking over from the 30 something lardo.
CV analysis coming up in 5-4-3-2-;-)
Andy, thanks for the charts.
I think moon cycle stuff is interesting...who am I to argue with the tides.
Post a Comment