just posting some charts which I think are worth some...

just posting some charts which I think are worth some attention.

First one - Gold breaking out with good volume. It could be a bulltrap but this week close will tell.

Second one - US 10-yr yields fell even though stock market was rallying. The fell in 10yr was very impressive given there was 21bln of 10-yr sales last night and US debt ceiling debacle is still gaining tension. That tells me bond market is quite bearish for the outlook. Watch if 10yr yield breaks the 2.84 support.

Third one - VIX. VIX is supposed to be red when equities rally but did not do that last night. But VIX needs to test that huge downtrend line to show real anxiety.

Summary - watch out. I think equity markets will be flat at best for the near term. QE3 may be good for US(although many doubt it), it will create more inflationary pressure in Asia especially China and AU. Have a look at AUD.USD now. it's almost 1.08 this morning.