AUDUSD
Although we may get a bounce upto 0.91, I expect this currency to drop to 0.72 (with a pause around 0.8)
Next
AIG Triangle Apex approaching
Chart..
AIG Apex
A Significant Triangle on AIG is approaching its apex. If it breaks to the upside then it could be $50 or on the downside $12. Worth watching.
Ford
This stock is amazing. Car sales in the US are at depression levels and yet the stock got to 2005 levels. Ford must have had a great deal of short interest for it to be in this price range. Good company that it is I am predicting we are going back down to below 5 again, within the first half of 2010.
Ford
Has CREE topped?
I rarely cover Momentum stocks, due to their ridiculous parabolic moves. I did a quick chart on CREE though and is screaming TOPPED.
Chart..
cree
Russell 2000 – Updated chart & Trade Plan
The chart..
rut2yr
And the 60 day view..
rut
I am suprised that the decline is not much steeper. It seems to be slower than all the other major indicies. Lack of Credit should impact the smaller companies the most. A few companies going into chapter 7/11 should drive some speculation/liquidity out of this index I suppose.
Eur/USD initial 1.387 target reached
First lets do the updated charts..
EUR/USD
And the 60 day chart..
EUR/USD
As you can see, we stopped around 1.387. Next week should be interesting. We are still holding on to our 1.27 target for this year.
Nasdaq – where will the “correction” end?
Chart
Updated nadsaq
Each time we have bounced off the Primary Bear Channel (see highlighted parts) we have gone down to retest the 64 week MA. This is now at 1,836. So that is where I think we are heading now.
Oil (USO) Update
First the chart…
Oil
Okay this is a 15 minute chart of our larger chart (see previous USO post). As you can see on this view we have reentered the bear channel. My best guess for the next major attraction point, on the USO, would be $31.54.
Updated 5 year chart is:
uso 5yr
Update on Gold (GLD)
First the chart..
Gold
Then the guess: On our last post GLD was at 107.17, We still think that this is going to $95.00 (at least), with some bumps along the way.
EUR/USD – Inflection Point ahead
In our last post on the USD (last November) the EUR/USD was around 1.47 and we reckoned it would go to 1.27. We still stand by this guess however we may be approoaching a critical inflection point (1.387) which may be used for either a bounce/consolidation or a total fall. Worth watching when we hit that point. Updated chart below:
EUR/USD
