DislikedI personally think Euro is to big to fall and for this reason i have hope..which is probably a ignorant view considering what america has to put up with
gold will go up over time and so will oil taking cable up
view is very much dependant on USD or EU next week ..market has stopped right at Resistance for USD..WHICH WOULD TAKE RIGHT BACK TO 1.59..break above 1.60..should take us toward 1.65 and above perhaps to test the breakout toward the downside (retest the ascending trendline (see weekly)
or we go towards 1.5638 area
positive for...Ignored
Speaking of dollar means NYSE.
Even if one ignore all the fundamental situation, the charts would say it all: Trouble is brewing.
Chart I, NYSE composite index.
U.S. equities are plunging out of technical consolidation on big volume and deeply negative breadth.
a sign of overwhelming selling pressure that's likely to continue over the medium term.
Chart II, Cyclicals Stocks versus Consumer.
When cyclicals are leading the consumer, you want to be in stocks.
But when makers of mac and cheese and toothpaste start outperforming makers of sheet metal and heavy equipment, it's time to get nervous. you want to be sitting in cash on the sidelines if possible.
Dollar up, stocks go down as well as commodities. But only time will tell.
A great analysis by Anthony Mirhaydari: STOCK BULLS ARE IN FULL RETREAT.
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