Posted in Currencies, Gold, SPY on Nov 23rd, 2007
The US Dollar has actually been gaining against the Malaysian Ringgit for almost two weeks now. It is difficult to find any currency that the dollar isn’t falling against, but on the chart to the left you can see the dollar advance on the right side of the chart. It is subtle, but if you look [...]
Stocks dropped today in a volatile session. After an initial drop, the indexes tried to mount a rebound, and it looked like once again that area of price rejection yesterday would hold and again reject the lower prices. But then another round of selling hit the markets and the S&P closed down sharply, invalidating that [...]
Posted in Baltic Dry Index, Currencies, Gold, QQQQ, SPY on Nov 20th, 2007
The big news today was the resumption of the decline in the dollar. The EuroCurrency closed at a new high against the US Dollar. The Japanese Yen was also higher, but didn’t quite make a new high. The dollar looks like it is in a free-fall against the Swiss Franc. Not much change against the [...]
Posted in Currencies, SPY on Nov 19th, 2007
The stock indexes were lower today. The chart to the left is of the S&P cash. You can see the clear downtrend in prices, and the breakout of the low swing point of six days ago, where the red line is drawn. I usually show the S&P ETF. The ETF rejected that low and closed [...]
Posted in QQQQ, Stock Market on Nov 16th, 2007
Stock indexes staged a late day rally to lift most indexes slightly to the positive side. Gold had been higher, but closed about unchanged, and oil was higher, continuing its change of direction every day. There isn’t really much to add to the commentary of yesterday. I will include the Nasdaq/QQQQ chart along with the [...]