USD has been in correction since the hysterical March top. The daily chart shows a series of lower highs and lower lows that was interrupted last week when USD failed…
USD is bouncing hard on what, new home sales? Fed governor 'Sept. rate hike' Jawbone? Euro 'sell the news'? Whatever the reason, Uncle Buck is up today but pausing at…
Just a quick note for those who only follow NFTRH.com... There is a post at Biiwii highlighting the basics of two interim macro plays; the prospective second phase of the…
Roughly 24 hours before the latest great ‘decision’ gets handed down on whether or not the Fed is considering changing ZIRP-eternity any time soon I thought I’d put up a general update of various markets.
It is the same old theme for the S&P 500, with a sideways to up bias on the intermediate and slight downward bias on the short-term. SPX is grinding up and down every couple days and this is a market that people should stand aside from, outside of individual trades and long-term orientations taken for other reasons. This market is and has been going nowhere.
From NFTRH 346: "It is possible that an A-B-C type correction began in March and ended in May and now a new bull leg has begun. But until 98 is…
The target on this counter-trend rally was 97. USD climbed above it, tried to establish support at the MA 50, and then failed today, I guess with the weak factory…
The Emerging Markets (EM) have been weak over the last month as the USD made a recovery rally. Today USD index is making a drop below the 50 day moving averages and the upside target of 97 we had noted (currently at 96.20).
This brings into focus the prospect of a ‘C’ leg of an A-B-C rally in commodities that was reviewed in NFTRH 345 and also the prospect of the EM fund EEM maintaining its series of higher highs and higher lows.
Daily USD (live chart from Investing.com) has broken above the resistance area (which included the MA 50) and is turning it to tentative support. What will be important to determine…
The yield curve (10-2yr) is dropping while nominal yields rise. Typically, that is gold adversarial. Meanwhile, USD turns former resistance to tentative support as the bounce/recovery continues. The next resistance…
The 10 vs. 2 year yield spread is up slightly and the 30 vs. 2 is up significantly. This continues a trend of late that brings the yield curve further…
Uncle Buck resides right at the corner of Bull and Bear where commodities and certain global markets are concerned. As noted yesterday, my stance is neutral on Unc short-term, but…
Treasury yields are rising with the spread between the 10's and 2's also rising. That continues the recent short-term trend. The longer this keeps up the closer we'd get to…
Today USD is bouncing to test the breakdown from the support at 94 (+/-). I am neutral now on USD for the short-term and expect the down channel to eventually…
The trend line from last summer is lost and the 94 +/- short-term support area is breaking down, per the weekly (live) chart. Now we look ahead to major support…