Morning Corner 3.11.11

Oh no! There Goes Tokyo!

Copper (weekly info)
-no change (above mid)
trend=up
high= 4.596
rev= 4.176; mid= 4.386



Last weeks candle looked like there was some indecision. This week cleared it up. It's weak as it's below the weekly 3LB mid. The question is whether there will be a reversal this week. If there is then that's the canary in the coal mine for stocks.



90 Day UST (weekly info)
-no change (below mid)
trend=no
direction=down (1 bar)
low= 0.090
rev= 0.170; mid= 0.130



Weekly 3LB is finally making a confirming low. Looking at the daily chart yesterdays dive is further indication that the Fed will not touch rates. So QE2 will end and the Fed will keep ZIRP going.

Bear Analyst versus Ten Bullish Analysts...