Friday, October 15, 2010
Equity prices have been in a downward sloping channel bounded by lines (a) and (b) for a little over a day. Along the way down, prices rebounded into the EMAs on several occasions (c). At the end of trading, prices rebounded (d).
Like equities, bonds fell yesterday, bounded by lines (a) and (b). Along the way down, prices rebounded several times (c).
The dollar gapped lower at the open (a) and then traded in a range for the rest of the day
Oil prices were in a strong uptrend for the last few days (between lines (A) and (B)). Prices fell yesterday, maintaining downward trajectory between lines (D) and (E).
Oil prices are still in a tight range (A), although prices are right at the top of this trading range (B).
Copper prices are still in a strong uptrend (A), with a very bullish EMA picture ((B) all moving higher and shorter about longer) with a rising MACD (C).
Lumber may have broken out of its trading base (A).