The grains complex has rallied from the 200 day EMA into resistance. Prices spiked in the early summer, but have been drifting lower since. The underlying technicals aren't pointing to a big move higher; the CMF is negative, and while the MACD has given a technical buy signal, it's still negative and moving sideways.
The daily Hong Kong market (top chart) shows a very strong rally that has lasted for the entire six month period. The weekly chart (bottom chart) shows that prices have broken through upside resistance and have rallied to near a two year high.
The daily yen chart (top chart) shows the yen broke through support at the 122 level a little over a week ago and has been dropping sharply since. The underlying technicals are all negative -- the MACD is dropping and below 0, the CMF is negative and all the EMAs are moving lower. The weekly chart (bottom chart) shows prices are dropping sharply with a negative MACD. Prices can ride the lower Bollinger Band down to the 200 day EMA.
The Russian market -- which broke trend in late October -- was in a counter-trend rally for the last week or so. However, after hitting the 50 day EMA, prices broke the trend line yesterday and are now below all the EMAs again.
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The Bonddad Economic History Project
At the beginning of 2012, I decided to start looking at the actual, statistical history of the US economy starting in 1950. The reason is simple: to find out what really happened. So, when you see title of a post that begins with a year such as 1957, followed by "employment" or "Fed policy: you know what it's for. You can also access the information by typing in BE for Bonddad econ and a year to find information on a particular year.
Here is a link to pages that contain links to all the posts on the years listed.