09 July 2011

Benchmarks : Weekly Update

  • Very good week. Unfortunately still behind where I was 2 months ago as trade size down was much larger than size up. That's the price one has to pay for deviation from rules. Still, hopeful in making up lost ground and grateful to be back on track.
  • USDX : Stuck inside triangle = still down. Sell break of triangle at 74.27 next week.
  • US10YY : Neckline mind games being played. Stick to plan = SHS top to 2.51% eventually. (Have put on low risk protection for this by going long ED spread).
  • S&P500 : As per US10YY neckline. This closed the week spot on the left shoulder at 1344. For me, look at the bigger monthly uptrend and forget about second guessing whether we go on to form a SHS top or not.
  • Gold : Reverse of USDX. Triangle consolidation of uptrend.

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