Looking Ahead

Mid day thoughts...

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A Step In The Right Direction

I was very happy to see the steps that the Metals and OIL markets took as the day went on. We will discus those steps in detail further on in the report, but first lets take a look at one of the major players in todays movement. 

 

USD - many were saying how strong the DOLLAR was looking, but I was writing that it looked weak internally, since mid July. This should bode well for Commodities.

USD 8-7

Notice the next chart of the Dollar...

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DIFFERENT

For quite some time I have been pointing out things to take note of that are a little different than many others saw things. I think others are starting to see what we were pointing out here months ago. I was mentioning  a bearish rising wedge pattern in the spring, and in June I looked at the SPX this way.

SPX WKLY 6-17 

JULY 24, the SPX had not broken out from that toppy looking curve.

SPX WKLY 7-24

Would the BULL MARKET break higher soon?

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