Benchmarks : Weekly Update

• Spike extremes of 06May10 re-visited and exceeded in many markets. Expect consolidation for now as market pauses for breath. The recently established new trends are probably here to stay and will likely continue after this consolidation period.
• USDX : Black candle after new high = warning. Expect some more downside next week.
• US10YY : Yield support around 3.10%. Sideways. I don't see this trading too much lower soon.
• S&P500 : Low 1057 this week vs 4th wave 1045. Almost there. Again, expect messy sideways period ahead.
• Gold : What can I say. I was wrong.