15 May 2010

Benchmarks : Weekly Update

  • Price action during the week gives increased confidence to last week's calls. TL breaks were tested and failed to reverse ie the breaks are good.
  • USDX : Strong uptrend continuation.
  • US10YY : Old UpTL (broken the week before) at 3.61% was tested and held. So expect to see lower Treasury yields.
  • S&P500 : Similar price action to US10YY. Old UpTL resistance is at 1160 for next week. Uptrend over. Going forward, let's see if it's just going to be sideways or a new downtrend. Need series of lower highs and lower lows for the latter.
  • Gold : Close above previous all time high of 1226. Bullish.

No comments: