UUP is hitting the 30 RSI support area today. My cryptic forecasts are based on the dollar. In fact, I have been more interested in gold,silver, and the dollar/currencies than the stock market lately…….
Gotta watch the dollar. Dollar strength tanked teh market Friday. Yesterday and today the dollar has undergone some obvious manipulation, which is unsustainable, being that it’s now taking about 1 penny vs euro to PUMP the dow 100 pts. Once they decide to dump euros, end of story.
Yes, there should be one more quick pop higher, as the vix still hasn’t hit it’s 17.10 FP from yesterday. I suspect it will hit into the close today or tomorrow morning.
However, I’d like to see it hit today, and some bad ADP numbers to tank the market tomorrow morning instead of waiting for Friday.
“…could pick up soon.” <—what ISM genius wrote that? The last time cotton prices were this high was the Civil War. It took a Civil War! The 70s have nothing on today's 20-80% food inflation. Does everyone in every analysis agency now work for Madman Bernanke?
“The prices paid index, which measures whether manufacturing companies are paying more for raw materials, jumped sharply. That’s a sign that inflation could pick up soon. If manufacturers are unable to pass on the higher costs, it could cut into their profit margins.”
UUP is hitting the 30 RSI support area today. My cryptic forecasts are based on the dollar. In fact, I have been more interested in gold,silver, and the dollar/currencies than the stock market lately…….
Gotta watch the dollar. Dollar strength tanked teh market Friday. Yesterday and today the dollar has undergone some obvious manipulation, which is unsustainable, being that it’s now taking about 1 penny vs euro to PUMP the dow 100 pts. Once they decide to dump euros, end of story.
Yes, there should be one more quick pop higher, as the vix still hasn’t hit it’s 17.10 FP from yesterday. I suspect it will hit into the close today or tomorrow morning.
However, I’d like to see it hit today, and some bad ADP numbers to tank the market tomorrow morning instead of waiting for Friday.
SP’s high of 1308.58 very interesting. ie 111.58 (58crash number in both directions). The market probably needs to do a doji top tomorrow or Friday.
“…could pick up soon.” <—what ISM genius wrote that? The last time cotton prices were this high was the Civil War. It took a Civil War! The 70s have nothing on today's 20-80% food inflation. Does everyone in every analysis agency now work for Madman Bernanke?
It’s getting quite tiresome right now… that’s for sure!
SP 1313 seems a good bookend to 666. 1307 works also. Dow now has a lower RSI with a new high if it stays here. Today should be 696 days from 3-6-9.
Bidu Breakout: http://niftychartsandpatterns.blogspot.com/2011/02/bidu-breakout.html
lol. and it was looking sooo nice there for a little while.
From the ISM report:
“The prices paid index, which measures whether manufacturing companies are paying more for raw materials, jumped sharply. That’s a sign that inflation could pick up soon. If manufacturers are unable to pass on the higher costs, it could cut into their profit margins.”