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The charts and comments in my Blog (posted in Eastern Time) represent my technical analysis and observations of a variety of markets...
*World Indices *U.S. Indices *Futures *U.S. Equities & Sectors *ETFs *Commodities *Forex
...an expanded version of the "Observations" section in my private Daily Trading Journal.

*** N.B. to my readers: Although I stopped trading in July 2013, I still take a peek at the markets now and then and post the occasional article here on my Blog.
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Friday, 11 November 2011

A Whole Lotta Charts...

Tonight's post shows a number of markets on the verge of a major push higher...many of them face considerable overhead resistance...time will tell if they will be successful or not...their Daily charts are as follows:












The US$ is sitting in a confluence zone of crossed regression channel lines and 50 sma (red)...near-term support lies at 76.70, followed by 76.00...will see how this trades on an inverse relationship to the above instruments.


In addition to the US$, the corresponding USD/CAD forex pair is showing a similar drop in price to prior support...it may be headed to the middle of an uptrending channel at around 1.0070.


We'll see what stories emanate from Europe next week and which way the wind blows these markets.

Again, I'll keep a close eye on the Financials...the 1-day 1-minute percentage comparison chart of the banks to XLF shows that JPM finished down on the day from the open, whereas the others finished up...one to watch, perhaps?