This is my first posting in my new blogspot site... my Daily Market Analyses
Hereonwith, I will post my thoughts, views and what I see from the charts...
Hope you all enjoy the reads...

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DMA 22 Feb 2010

Had a great weekend and some time to look at the charts to refocus...

Here is a summary of what the charts are telling me...

The USD (DX) although ended slightly up on Friday, is having bearish divergence and should be heading down further today, and this week. This would be reversed in a flight to quality reaction in response to the Euro potentially defaulting countries dragging the Euro down, if at all happening this week.

In line with the DX drop, the SPX had broke out of the 50MA and shold spike up for a couple of days, today included. I am not too sure about anything further than a couple of days up as the SPX is overbought at these levels and divergences have formed. Am looking for signs of a plateau and reversal to break the 50MA again.

Similarly, Precious metals like Gold, silver and even industrial metals like Copper look bullish at least for the next ccouple of days. Gold is still in range and needs to break out of 1127, otherwise, breaking down of 1099 means bearish sentiment for the yellow metal. Silver has bullish tendencies but I am told of very obvious bearish divergences.

Crude has had a great run up, and proportionately more when inversely correlated to the dollar retracement. Some more legs to go it seems but am wary.

Again, the dollar is king and will be calling the shots.

Note: Do note that any material posted here is of my sole opinion, and my opinion may differ from others. It is definitely NOT a solicitation to do anything else as a consequence of reading this material. The material presented here is intended for educational purposes only.