Today's interesting charts
Eoin Treacy's view Nasdaq-100
- continues
to pause in the region of the 2007 peak
and a sustained move below 2100 would be required to question medium-term potential
for additional upside.
NYSE
Arca Goldbugs Index - has
plotted a progression of rising major
reaction lows since at least March and a sustained move below 550 would be required
to question medium-term upside potential.
Taiwan
Bank - broke upwards
to new recovery highs last week and improved on that performance today. A sustained
move below 900 woud now be required to question medium-term upside potential.
Euro per 1 Swiss Franc -
remains in a relatively consistent
medium-term uptrend but is becoming increasingly overextended relative to the
200-day MA. However, a clear downward dynamic would be required to check short
term momentum beyond a brief pause.
Singapore
Dollar per 1 British Pound - testing
the 30-year low near SG$2 and while
somewhat oversold in the short-term, a sustained move above SG$2.10 would be
required to begin to question potential for some additional lower to lateral
ranging.
Feeder
Cattle -
broke out of a seven-year range last week
and a sustained move below the 200-day MA, currently near $112, would be required
to question medium-term upside potential.
Rubber
- hit
new 20-year highs in November and continues
to improve on that performance. While becoming increasingly overextended relative
to the 200-day MA a sustained move below JPY350 would be required to question
medium-term upside potential. (Also see Comment of the Day on November
10th).
Sugar
- pulled
back violently in November but found support
in the region of the 200-day MA and has since rallied impressively to post new
highs. A clear downward dynamic would now be required to check momentum beyond
a brief pause.
Copper
-
continues to hold above the psychological
$4 level and a sustained move below the 200-day MA, currently near $3.60 would
be required to question potential for continued upside.