Posted in Baltic Dry Index, Gold, QQQQ on Jan 24th, 2008
The Baltic Dry Freight Shipping index was down again today. So far it has made an almost complete retracement of the upmove from mid-June of last year. The double top, momentum divergences, and break of parabolic stops were noted at the time. I must admit I was thinking this was a bubble most of the [...]
Posted in Baltic Dry Index, SPY on Jan 16th, 2008
Stock indexes sold off on the open today, then rallied into positive territory, then sold off again to close a little lower than the open, but off the lows. The Nasdaq futures closed right about where they opened, leaving a candle that appears as indecision. Momentum is down in all the indexes, as are the [...]
Posted in Baltic Dry Index, SPY on Jan 11th, 2008
Stock indexes were hit hard again today with the major indexes giving up all or some of the gains from Thursday. Grains exploded higher on crop news and helpd fuel the continued rally in gold despite falling crude and a flat dollar. The Baltic Dry Index has made a 50% correction of the last impulse [...]
Posted in Baltic Dry Index, Currencies, Gold, QQQQ, SPY on Jan 2nd, 2008
The gold market made big news today with prices finally taking out the all time high set 28 years ago. For those unlucky enough to have bought at the peak in 1980 and held on all these years until breaking even, today was a good day. Of course the destruction of the dollar would mean [...]
Posted in Baltic Dry Index, Currencies, Gold, SPY on Dec 14th, 2007
The US Dollar continued higher today with a very wide range bar. The move really started accelerating in the middle of the night in the US session, and extended the gains throughout the day. You can see how prices started to trade past the trend lines a couple weeks ago while those lines were still [...]