'good old regular data' - monday, page-2

I’m still thinking that the US dollar holds the key. It is trading around its long term support level which it keeps hitting up against but if rolls over and loses this support band, then it is going to get nasty. We had a good example of this sort of market action in copper over the past week or so.

Silver broke topside out of the little flag pattern it has been in but then came back to only close in the middle of the day’s which doesn’t confirm anything. Shame I didn’t make gold my chart of the year instead of silver but still think that by the end of 2014, I’m confident it will be successful.

The RUT worries me the most of all the indices but at the same time I am aware that it might be the index to try and run up to a new high hitting up against it upper return line. It has hit this lie so many times that it is difficult to keep count – each time squeezing itself into a tighter and tighter corner (weekly semi-log scale) The SPX is back into a support area so if it does want to have one more go to the upside, this is a good spot to do it from.

Full moon as well – so that might give us some action.