Interesting charts April 11th 2016
Robusta Coffee – pushing back above its trend mean for the first time in a year, in defiance of the recent weakness in Arabica. A clear downward dynamic would be required to question potential for additional upside.
Intraday chart of the S&P500 – On the last two trading sessions the market surged higher on the open but gave up the advance during the session to finish in negative territory. To me at least this looks like an effort to manipulate the market. With the sharp initial rally giving computer systems the ability to trigger short stops then let out inventory at higher prices which the market has been unable to absorb if the negative closes are any indication. The potential for some unwinding of the six week rally continues to look more likely than not.
Vietnam Opportunities Fund is trading at a discount to NAV of 19.94% and broke out of an 18-month range in February. It continues to extend the breakout and a clear downward dynamic will be required to check momentum.
