Saturday, December 19, 2009

Weekly 3LB update (week ending 12/11/09)
* indicates new chart,
a new high or low will change the reversal price and the midpoint

SPX -no change
rev= 1087.68; mid= 1097.05
Chart of SPX:
see chart from 12/11/09

Dow Jones -no change
rev= 10270.47; mid= 10338.15

Nasdaq Comp -new high
rev= 2139.28; mid= 2175.49
Chart of Nasdaq Comp:

DXY* -new high (now trending up. let's see how long before stocks react)
rev= 75.28; mid= 76.52
Chart of DXY:

Gold -no change (still trading below mid)
rev= 1095.70; mid= 1134.95
Chart of Gold:
see chart from 12/11/09

10 Year -no change (still trading above mid)
trend=no; direction=down (2 bars)
rev= 38.62; mid= 35.37

SLV -no change (still trading below mid)
rev= 16.50; mid= 17.36

BAC -no change (trading below mid...again and again)
rev= 17.46; mid= 16.02

AXP -no change (still trading above mid but is showing weakness)
rev= 34.95; mid= 37.94

AMZN* -no change (dark cloud cover confirmed. tested mid)
rev= 118.81; mid= 128.06
Chart of AMZN:

M -new low (WEEKLY REVERSAL still needs confirmation week. Still not confirmed after 2 weeks)
trend=no; direction=down (1 bar)
rev= 19.82; mid= 17.90

VIX* -no change (Had a weekly reversal. Still no confirmation this week)
trend=no; direction=down (1 bar after 2 weeks)
rev= 30.69; mid= 25.97
Chart of VIX:

XLF -no change (still trading below mid)
trend=no; direction=down (1 bar for 8 weeks)
rev= 15.24; mid=14.65

BKX -no change (still trading below mid)
trend=no; direction=down (1 bar for 8 weeks)
rev= 47.69, mid= 44.96

WTI Crude Oil* -no change (still trading below mid even after the scare. Bullish piercing on weekly candle)
rev= 68.44; mid= 74.47
Chart of WTI:

Powershares USD Bull* (UUP) (WEEKLY REVERSAL)
trend=no; direciton=up
rev=22.26; mid=22.64
Chart of UUP:

Goldman Sachs* (had a weekly reversal 3 weeks ago. finally confirmed this week. will it trend?)
trend=no; direction=down
rev= 189.30; mid= 176.10
Chart of GS:

Tuesday, December 15, 2009

DXY Monthly View

Decided to take a quick look at the monthly DXY to see if its mid or reversal are coming into play. The answer is yes as we have closed above the mid. Sentiment is turning positive which may lead to a reversal of the downtrend.

rev= 78.15; mid= 76.52
Monthly chart of DXY:

***Also noted that this reversal is also seen in Andy T's Dollar Update which is a must read.