Global Macro & Cycle Round-Up
Last week we highlighted the USD and the critical long-term swing resistance it was pressing against. As it turns out, the USD blew past that resistance later in the week, per the chart below. In that chart, note that said…...
Global Index Round-Up
In the chart package below I present nine different global stock indices. Just want to provide a quick and dirty look at how various global macro equity indexes appear on a chart-basis right here to frame things up. Not a…...
Copper May Still be the Nikkei’s Rosetta Stone
One of the first ever posts I put on the site re: the Nikkei was this one where it was suggested that 2012 for the index was analogous to circa 2002 for gold, with the point being the former was…...
Driver/Coincidental of Gold Approaching Long-Term Support
In our 2015 working thesis we laid out the case for additional commodity downside, notably in copper and crude. We also highlighted gold and suggested that it had the best looking / most bullish pattern and had the best chance…...
Working Thesis for 2015
It’s that time again. Time to put pen to paper and make our best attempt at crystal-balling the upcoming year. If we had to name 2015 or give it a theme we’d probably call it “The Year of Capitulation”. By…...
Long-Awaited Copper Breakdown?
I’ve talked about copper’s bearish technical pattern for quite some time including in March of this year and as far back as April of 2013. Very recently we highlighted it again. The price action this week has been interesting with weakness seemingly accelerating,…...
Yen/USD Cross Approaching Material Long-Term Resistance
In the chart below the Yen is reaching material long-term resistance at lines (1) and (2). In addition, its 61.8% Fib retracement level (3) formed off the 1998 highs / 2011 lows in the cross comes into play at the…...
How Does Copper Not Fall Significantly from Current Levels?
Here are some looks at copper below. The pattern this thing has put in place since it peaked in ~2011 is one big, nasty descending triangle b/t lines (1) and (2). I consider those to probably be the most reliably…...
Nikkei Needs to Successfully Test Old Resistance as New Support
On a shorter-term basis I believe the Nikkei needs to successfully test its recent break-out as new support. For me, that break-out is less about the 16K level, or long-term trend resistance dating back to 1990, and more about the…...
Gold, Rarely a Rush
We’ve had two posts on gold over the past few months, one in March and one this week. Both centered around the idea that the metal was either posed or had actually managed to close above its 12 month MA…...