tuesday thoughts, page-3

I have been following for some time with considerable interest the various views re financial markets outlook, based on technical analysis by contributors such as yourselves.

Overall, there seems to be a majority view that markets might be near a top and that, at least, a short term correction is likely. Some go so far as to suggest a major shakeout, while a minority seem to anticipate a moderate correction and then business as usual.

Please allow a non technician to ask whether at this point in time weighting should be given to what might be alternative indicators of near term market direction. There are probably a host of other non-charting indicators out there.

In particular, can anything meaningful be read into what seems to be a developing, across the board wekness in metal commodity prices (there was an across the board retreat last night), looking at this weakness alone OR in conjunction with US bond rate weakness.

These movements seem to sit at odds with the talk about the long term strength of world economic activity and may well be a grass roots indicator of the market positioning itself for a near term correction.

Thoughts?