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The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
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Great Escape

Great Escape


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Friday, November 11, 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?