Dollar is not far off its lows of
yesterday at .8198. It is forming
a very short term reverse H&S
pattern that could move a little
higher after a dip to form the right
shoulder.
Euro is pulling back into a down flag
after a healthy up move for days,
Should resolve up and pull up gold
Bonds moving up right now and have
put in a substantial rally after having
taken out some long time lows recently.
Bonds will eventually collapse, but trading
them so far is a mystery and illogical.
Dow and S&P are both moving down in this
bear rally and should keep moving down if
they get some momentum, but guv'mint
interference in the market will always be there
to mess things up for everyone.
Oil is pulling back from the $60 high it put in
recently. That may be the big resistance area
for a while, but Oil will be going higher as the
dollar becomes more worthless, just to compensate
for that loss of paper value, same for gold.
