The new monthly has been posted to our website for our subscribers. If you are interested in purchasing the report or in subscribing for a year (approx 35 reports plus 150-200 daily comments) please e-mail walter@wminsights.com.
Below, is our Plain English summary from the first page of the monthly. The charts are worthwhile!!
Stocks: We can say with confidence that the rally from the July lows has been reversed. Thus, our immediate focus will be on chart and Fibonacci support levels related to the July-January advance. But as the new downtrend develops, and especially if it begins to move below 1043, we will begin to focus more on tactical support and the potential for a confirmed resumption of the primary bear trend.
10-Year Yields: A breach of 3.175%-3.201% would invalidate three bullish formations and set the stage for still lower yields. Thus, we view that range as tactical support.
US Dollar: Conventional wisdom is that expectations toward the dollar are responsible for the movements in commodities. Our take is that the dollar is but one player in a broad-based cyclical change in trends.
Commodities: The Continuous Commodity Index had a five wave decline in 2008, followed by a counter-trend 61.8% retracement rally. This combination suggests that the CCI is positioned to test its 2008 low. To put that into perspective, the index is currently at 465; the 2008 low was 322. However, there are still a few missing ingredients for such a decline.
Tuesday, February 2, 2010
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment