Brief version tonight.
Let's start with the weekly chart of the Nasdaq.
Courtesy of stockcharts.com
Has bounced off a support line, and though a previous uptrend has been broken, it isn't really in a downtrend. It isn't in an uptrend either, until it gets back up above 2150 or so.
Next is the CRB
Courtesy of stockcharts.com
CRB is still in an uptrend. Might be an entry with a tight stop.
Gold.
Courtesy of stockcharts.com
Gold is in a similar spot, hugging an uptrend line. If 425 holds, this might be a good low risk entry.
Now the continuing saga of the USD
Courtesy of stockcharts.com
USD has been within a tight range. Technically, it is similar to the Naz, but upside down. Clearly bearish below 80, and arguably a change of trend above 85.
Have a great week everyone!
Sunday, May 08, 2005
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