Friday Afternoon Charting Fun: Gold

A little perspective on the move in gold should go a long way.   The inverse head and shoulder pattern that developed from November to March hit it's ultimate target almost to the dime near $153 (on the GLD).     After the recent 6.5% correction the GLD found support at the rising 50 day […]

Copper Looking For Further Upside

I just wanted to reiterate this: Copper is often being looked to as a leading indicator for global economic growth.  Whether that's true this time around or not is fairly irrelevant for my note here.  Looking at the chart below I note a downward-trending channel that Copper is now looking to break out of to […]

EUR/USD At Support Level

The dollar rallied further yesterday, bringing the EUR/USD back down to a multi-year trend line.  In early April the dollar pierced through a downward sloping trend line near 1.42 at the time and now is retesting these levels.  While this could provide some sort of support, our take is that the dollar's strength here, partially […]

Consumer Staples Leading, What Does It Mean?

Since the beginning of April the defensive sectors such as Healthcare have outperformed the more cyclically exposed sectors such as Technology even while the S&P 500 was lifted to fresh 2011 highs.   While that's an unusual occurence, dwelling on past facts is useless.  The more pressing question is what this could mean going forward. […]

Silver Crash And More…Friday Afternoon Rambles

It's been a seriously tiring week and I for one am ready (and have been for a few hours) to put my keepe in a resting mode for a solid 36 hours at least. The S&P 500 as well asl the rest of the major equity indices had a volatile time to say the least. […]

One Chart To Sum It All Up

The thing to remember about today's trade is that A) the world is interconnected by the banks and derivatives and B) that many more institutions and individuals these days own multiple asset classes.   Regarding point A, this means that the mortgage default in Florida affects a Swedish bank as much as it could affect […]

Baltic Dry Shipping Index Not Participating

The baltic dry shipping index reflects rates charged for commodities shipping.  The index is usually considered a fairly decent indicator of economic demand for goods and growth but over the past two years the index has done nothing at all, indicating demand for shipping is not on the rise.   I have pointed this out […]