11 thoughts on “CHART OF THE DAY”

  1. M.D.Cov

    Gary TODAY the dollar broke out AGAIN confirming it’s continued trend UP coinciding with precious metals slipping past my threshold point of GOLD $1195 which ejected me like that of OIL (slipped overnight helping my cause on now short etf’s) to REVERSE positions in gold and silver etf shorts.

    Seems rationale enough to see the trends remain:
    US Indices UP
    US dollar UP
    GOLD down
    Silver down
    Oil down

    THE trend is your friend as they say and for me it’s hard trying to be a hero and a rebel lately……. live and learn.

    Cheers — M.D.Cov

    1. MBP3

      The Dollar will really gain momentum once it breaks above the 200 week MA. It has a long long way to go yet. This is great news for consumers as deflation will take hold.

      2. CountOfMeltedCrisco

        Is that right? You don’t say? I’m sure you have an explanation, then, for why every “momentum” indicator commonly used by technicians is showing some of the scariest, most powerful negative divergences in recent memory as the US$ has staged this risible “rally”. The “momentum” is gone, and as soon as the US$, as played by Wile E. Coyote, notices there’s nothing but air beneath it…. well, the canyon floor beckons.

        Enjoy the ride.

  2. CountOfMeltedCrisco

    Today’s number is sooooooooo bogus and soooooooooo cooked that, in retrospect, it will be seen as the moment the credibility of any number coming out of Washington was totally, irretrievably lost. In other words, they’ve hoisted themselves on their own petard with their own hubris and propensity for prevarication.

    1. gary Post author

      I cover it in this weekend report but I don’t think the euro is going to go too much below that 200 month moving average during this intermediate cycle.

    1. gary Post author

      I actually think it’s more a dollar gold correlation. As the yen drops the dollar rises and that has pressured commodities and gold.

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