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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 $$$...

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UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Mon. May 28 ~ U.S. markets closed for Memorial Day Holiday
* Wed. May 30 @ 2:00 pm ET ~ Beige Book Report
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IMPORTANT BLOG POST UPDATES...
* JCPOA - Will President Trump recertify the JCPOA on May 12?...stay tuned...May 8 the answer is "No"...US pariticipation in the deal
is scrapped...new sanctions coming for Iran and, possibly, for nations supporting Iran.

Thursday, May 03, 2012

A Comparison of DBC and AUD/USD

Further to my post of May 2nd, there is a similarity in the behaviour of price action since last May, as reflected in the following two Daily charts of the Commodities ETF (DBC) and the AUD/USD forex pair.

At the moment, each one is trading below both the 50 sma (red) and 200 sma (pink), both are at their respective lower Bollinger Band, the MACD has just hooked down on Thursday's close, and the Stochastics has crossed over to the downside. The DBC is approaching major support in the vicinity of 27.47, while the AUD/USD is trading immediately below trendline apex support of 1.0274.

A break with conviction and hold below these respective support levels would indicate further weakness in commodities, and possibly drag the equities markets further down...two to watch for further direction.