Last week: The week started with some warning signals, alerted in updates here and here, and these proved to be accurate predictors for what was to come. The first was some Yen strength and this was closely followed by similar Flight to Safety moves into the US$ and Gold; with all three preceding the large […]

The markets are digesting the latest FOMC update where US interest rates are forecast to remain low through to 2022. This news has not helped the US$ but it has helped Gold and the tech heavy NASDAQ has closed above 10,000 for the first time. So, for now, US$ weakness remains the theme.

I’m showing my age here but my chart review this morning brought a childhood television character to mind, the Robot from Lost in Space, and one particular scene where Robot was most agitated and calling a warning to young Will Robinson. The charts are a bit like that for me today; all explained below.

Last week: The divergence between Main Street and Wall Street continued last week and was further fueled by the better than expected US NFP jobs report on Friday. The NASDAQ closed at an all-time High whilst Covid-19 still ravages economies and civil unrest spreads around the globe. This divergence reinforces a point I keep laboring: […]

The US$ index closed with a another bearish weekly candle, the third in a row, however Friday’s candle was green following nine bearish days. Friday’s bullish candle was in response to the surprise NFP results where 2 million US jobs were added where a loss of almost 8 million had been expected. Whilst this daily […]