August 31, 2009
ML currencies and futures chart update 08/31
August 23, 2009
ML currencies and futures chart update 08/23
I just updated my currencies and futures charts illustrating Median Line techniques for 08/23/09. I am finding out that I simply do not have the time to post stocks/ETF charts, so I have removed them from my site. Maybe in the future I will find some time to bring them back. Now to the charts!
I think the stock indices surprised many when it broke up through the .382 retracement from the October 2007 highs, but not to anyone following the Median Line charts! There may be some life left in the stock indices. I truly believe stocks are in a bear market rally that will end soon – just not quite yet. I am watching to see if price is drawn to the area of confluence the end of August/first part of September at the .500 retracements on the Dow and S&P.
Oil broke to new yearly highs this last week as well. Gold also had an up day on Friday and looks to move up further short term. Is it sustainable? Depends on the US dollar. Many of the currencies are at important lines that will dictate near term market direction. Maybe a little weakness in the US dollar short term before it strengthens? It should be an interesting week.
Futures: http://www.medianlinestudy.com/futures.html
Currencies: http://www.medianlinestudy.com/currencies.html
Keep drawing the lines!
Greg Fisher
August 17, 2009
ML currencies charts updated 08/17
I just updated my currencies charts illustrating Median Line techniques for 08/17/09.
When I was going through the charts a little over a week ago, I kept seeing a recurring theme on many that encouraged me to write, “dollar up” on a number of my personal charts after looking at many of the currencies and commodity charts. That has certainly been playing out in these markets since. Gold, oil, and the grains have shown weakness. The dollar has strengthened against most of the currencies. Will it last?
Currencies: http://www.medianlinestudy.com/currencies.html
Regards,
Greg Fisher
August 15, 2009
ML futures chart update 08/15
- Gold prices had been contained in the blue ML I drew in at the last update on 07/25 until the end of this past week.
- The 30 year treasuries chart gave a pleasant surprise when price was attracted to an area of confluence and reversed.
- I am still intently watching the stock indices charts. If the areas of confluence act as price attractors, they could have another spurt upward the end of August.
- The soybean chart looks to have a lot of room downward if the area of confluence acts as a price attractor.
- With all the talk of inflation or not (depending on who is talking) – has oil made its highs for the year?