Benchmarks : Weekly Update

• Very resilient bulls. Dubai brushed aside as a blip, with long buying tails (hammers) evident on a lot of daily charts = yesterday's Asia/Europe price action is only a retracement. Nevertheless, significant technical damage has been done to a few key charts eg AUD breaking strong UpTL. The battle continues with bulls having the upper hand still but the bears are beginning to have some say now.
  
• USDX : Down trend continues.
• US10YY : 3.21% = lowest closing yield since May09. Bullish TY but would be more comfortable if we can just muster enough strength to close below 3.11%.
• S&P500 : Simple eyeballing = Uptrend. But 2nd week in a row gravestone doji (albeit tail a bit short) formed so bulls should be careful here. Above 1114 = game over for die hard bears (moi) still clinging on to Rosenberg by the skin of their teeth.
• Gold : Strong uptrend.