Thursday, August 19, 2010

Energy Date Window.


Important levels

Thursday's Pivot Points
R2 1107.24
R1 1100.70
Pivot Point 1093.23
S1 1086.69
S2 1079.22

Weird Close and after hours session!
Enough Said

US $

  • possibly completed a 38.2% correction--if so, a powerful resurgence in the dollar may be about to commence.
  • Fibonacci targets point to higher prices

Gold has a VERY interesting chart
  • the rally off the 1155.90 low has retraced slightly more than 61.8% of the June-July decline
  • RSI is creeping into overbought territory
  • Current price level approximately equal to the December 2009 high
  • A possible Head and Shoulders forming: REPEAT possible H&S
Still bullish but becoming increasingly CAUTIOUS.

U.S. T-Bonds
There is talk all over the street about the 'BOND BUBBLE'--what bubble--does this look like a bubble--a parabolic curve fueled by blind enthusiasm? Or, is the Bond action a wall of worry supported by a combination of desperation and exasperation?

Nonetheless, the current level certainly is intriguing:
  • 61.8% retracement of the Wall Street Meltdown chaos
  • current level same amplitude as the 2009 basing structure (bc=ab)
  • RSI moving into over-bought
If things were to get 'interesting' vis a vis the economy, Wall Street, and the US$, bonds may once again exhibit 'high anxiety'. Who knows? People talk about markets being manipulated etc etc--well if anything is a Ponzi scheme it is surely the US Debt market. (Fiat Comedy at its best)

I would like to thank the individuals who have visited this site on a frequent if not daily basis. You know who you are, but I don't for the most part. I notice your frequent 'hits' on my Site Meter. Since I don't know your names I will simply list your location.
Hong Kong: Central District
Brussels Hoofdstedelijk Gewest
Rome Lazio Italia
Turks & Caicoes
Grand Cayman Islands
London England
Washington, DC
Stamford Conn.
Huntsville Alabama
Montreal PQ Canada
St. Laurent PQ Canada
Sterling Heights Michigan
New York City (several ISPs)
Los Angeles CA
Utrecht NL
and of course
Sudbury, Ottawa and Toronto

Thank You: I appreciate your interest.


Anonymous said...

Sterling heights, mi
thank you..
your writings are more confusing than before. I can't figure out your view of market direction.

Fibocycle said...

I will make a posting tonight that will make my view of the equity markets quite clear.
I have started to put icons on most of the posted graphs that indicate my intermediate (1 -4 months) term position. As it stands currently:
S&P Bearish
US $ Bullish
Gold a VERY cautious bull but can reverse on any contra-indications
Bonds. I have no opinion on Bonds at this point. I seldom do.

Watch for the following icons on the graphs
Stop Sign
Green light
Caution sign

If you want to discuss this further make a posting with your email--which I WON'T publish and I will email you directly.