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Welcome and thank you for visiting!

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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

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

Dots

...If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Beach

Beach

Events

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IMPORTANT BLOG POST UPDATES...
* Trade Wars have escalated and now include diplomatic wars PLUS President Trump is cannibalizing prior U.S. market gains
with his tariff tantrums against its world trading partners, while destabilizing a delicate world market balance

Monday, September 26, 2011

Which way now, Captain?


The markets seem to have lost their way and are trying to find direction as shown on the 4-hour chartgrid below of the YM, ES, NQ & TF. They're stuck in an "orbit" around their trading range from August. Any attempts to break below have, so far, been thwarted...and the same on attempts to break out on the long side. It would appear that a major catalyst may be needed to move them one way or the other with conviction and on high volumes...and, no doubt, that would be some kind of major news event.


Further to my post last Tuesday, Copper pierced its H&S target of 3.15 in pre-market trading today and ended on a very long-tailed "hammer" just above a support level of 3.3 as shown on the Daily chart below. The health of "Dr. Copper" from here may help to determine the next direction of the equities markets. At the moment, it is much weaker than the equity markets, which may be a precursor of what is to come in those markets.


Further to my post last Thursday on the USD/CAD, attempts to push the US $ further up versus the Canadian $ have failed as shown on the Daily chart below. We'll see whether money begins to flow out of the US $ in any kind of meaningful way in spite of what the Golden Cross is signalling, or whether price simply consolidates before the buying resumes to its ultimate IH&S target of 1.05, and, as an inverse relationship, whether selling resumes in the equities markets.