WELCOME

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.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* 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 $$$...

Venice

Venice

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Fri. Sept. 11 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Sept. 16 @ 8:30 am ET ~ Core Retail Sales & Retail Sales
* Wed. Sept. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Fri. Oct. 2 @ 8:30 am ET ~ Employment Data
* Wed. Oct. 7 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Wed. Oct. 14 @ 2:00 pm ET ~ Beige Book Report

*** Click here for link to Economic Calendars for all upcoming events

Tuesday, May 15, 2012

Toronto's TSX Index, Commodities, and AUD/USD

On Tuesday, Toronto's TSX Index closed below major support and below December 2011 lows, as shown on the Daily chart below. The RSI, MACD, and Stochastics indicators are still trending down. The 50 sma has now crossed below the 200 sma and we now have a bearish "Death Cross" formation on this index.


Inasmuch as the TSX Index is weighted in favour of commodities, I'm also discussing the two Daily charts below of the Commodities ETF (DBC) and the AUD/USD forex pair, which show their continued decline below major support. Price is trading close to December 2011 lows, and the MACD and Stochastics indicators are still trending down.

I'll be monitoring these to see what happens upon a "Death Cross" formation, which appears imminent. For now, the trend is still down on all three instruments. I expect that any further decline in commodities will drag U.S. equities down, as well.