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  1. Respect

    This is the Dow Jones Transportation Index. It wasn't all that long ago I would almost never look at it because I thought I didn't need to. But the more I learn the more I've come to respect this chart because I know it's important, it's proved it to me time and time again.

    Today we put in a beautiful Doji Cross. This is where prices push in both directions but close flat. Sometimes a Doji cross can mark the beginning or end of a wave. But you can't just take a Doji Cross at face value,

    Updated 12-16-2009 at 01:36 AM by JTH

  2. Two Steps Forward, One Step Back

    We gave up some recent gains today, but all in all it was not unexpected and it certainly didn't do any technical damage.

    There were a number of things contributing to the downward bias. First, the Dollar Index hit a fresh two-month high, pulled back some, but still finished with a .7% gain against major currencies. Second, the November Producer Price Index increased 1.8%, which was much higher than expected. Excluding food and energy, the increase came in at .5%, but still stronger ...
  3. Take notice

    These 4 charts have all closed with a higher high than the previous swing high. Three of these charts have closed with YTD highs today.

    The S-Fund has already tacked on 2.94% MTD. If these markets continue to thrust upward I wouldn't be surprised to see the S-Fund close above 6% for the month. It's just a guess... 3/23/04 Going 25% S fund.-untitled-png
  4. I'll Have Some More of That

    Well, we didn't really get any weakness today due to excessive bullishness in some pockets, and at this point even if it comes how much damage can it do? It is Options Expiration week, so we can certainly have some volatility as we move forward.

    Tomorrow morning, three economic reports are scheduled to be released. Core PPI, PPI, and Empire Manufacturing. Wednesday we'll get Core CPI, CPI, and a FOMC announcement. So we have some potential market moving news coming. Here's today's ...
  5. The Dollar

    The Dollar

    I was wrong last week on the dollar, the fundamental picture has changed and should be respected. Last week when the Dollar broke above the descending channel and above the 50 SMA, I was expecting this move to be a fake-out. Reason being, trendlines often get tested, & violated, but eventually resume their course within the current trend.

    However in this case we've broken and closed above the channel over the last 5 days. At 76.52 we've closed higher

    Updated 12-13-2009 at 05:41 PM by JTH

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