Stocks mixed, Gold and Oil higher again

Not much to add regarding stock indexes today. The indexes were generally lower, but closed well off the session lows and on lighter volume. Trends and momentum remains down, with the Nasdaq already in the testing area of the previous lows. Gold continues higher with no indication of exhaustion yet. The EuroCurrency looks like upside momentum could be waning, but trend is still strongly up. Grains continue higher with Soybeans making a parabolic move up much like Wheat just experienced. Trees don’t grow to the moon, but traders apparently think this time is different. I’d be careful. When bubbles pop the downside is often more violent than the preceding upmove. The catalysts could be a correction up in the dollar, which I have been thinking would happen for some time. But Bernanke’s reckless disregard for the dollar has postponed a rally. When the rally finally arrives many of these bubble could pop.

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