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Like most people who end up with their own blog, I have become overwhelmed with the job of managing information. I subscribe to numerous feeds and literally swim as hard as I can just to stay up to date. Many people I know have asked about where I source my news and commentary and it becomes an awkward, unwieldy experience trying to encapsulate a cogent reply. So this blog is my attempt to point people to a single place where information I follow flows. My blog list is very extensive and I have tried to whittle it down substantially. I am also on the prowl for more blogs, therefore all recommendations will be highly valued! I have daily feed straight to this site some of my favorite content. Daily review of Mish Shedlock, Nathan Martin, Jim Sinclair, GATA, and Martin Armstrong are essential IMO and will be posted here. Also, I endeavor to provide weekly Technical Analysis of Gold, Silver, US Dollar, and select markets. I hope to provide some with an exposure to technical analysis, and at the same time hone my own skills. Also, I will be adding commentary to the daily feeds from other sources. In time, this will be the primary focus of my blog as frequent visitors will channel feeds appearing here directly to their own sites and will come here for either analysis or commentary. I hope you find some utility here and it serves you well out there in the Matrix!

Friday, April 30, 2010

Dollar divergence

6 mo: "

via StockCharts.com
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On the Dollar 6 month chart, divergence between price and all indicators I use for charting. The positive slope of the price line does not agree with the negative slopes associated with RSI, MACD, and Stochastic. That bodes well for future dollar weakness and for now stronger stock markets. Of course gold is doing it own thing now and and the correlation with the dollar has been weak.

USD - 3 yr: "

via StockCharts.com
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On the weekly chart, the dollar has found resistance at the Fibonacci 50% retracement line.  Stochastics are hanging around the 80 signal line and a cross down below sets up the 20 week MA as the target or around 80.  That level also corresponds to support from the Fibonacci 38.2% retracement line.
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