Greetings again, Everyone at The NYSE Close!

Well… I think for the first time in the history of The Blog… I really do not have a lot to say!

OK OK… All of you can stop cheering now!… hee hee hee…   

Seriously… the continual Summer “Directionless” Sentiment out on the Larger Time-Cycles are certainly a sign of the Lower Summer Volumes… despite the increased Volatility and “Angular Noisy” Market Behavior.

Of course from The Hill with Bernanke, all The “Fed-Speak” was certainly out on the table for all of us to hear… as Economic Indicators and Data Point Releases get “Lost in Translation” for the Layman listener or viewer on T.V.

Housing and Consumer Sentiment are the “Name of The Game” here, as always, in any type of Economic stabilization and Recovery… so on it goes!

As we move into The Asian-Pacific Sectors, let’s take a look at The USD/JPY Unit as The Nikkei, The Aussie Markets, The Kospi, Hang Seng, etc… get moving along with their Morning.

The Unit could be the Classic Symbol of a Directionless Market!

Post-Time is 23:00 GMT.

On the Daily View, we are locked in a tight Range of about 91.70’s Static Support to the Transitive Rollover Area of Resistance at the 94.80’s. Our Long-Term Downtrend Channel from April is still very valid in “Anchoring” Price and current Momentum is leaning to more Depreciation of the Unit with Yen Strength.

The Hourly provides a little more Clarity as a Horizontal Range is in place. Price looks to Breach the Downside Dynamic Support Line first with a move towards the 93.20’s Support Area in the Immediate-Term… as Risk Aversion gradually comes back to The Markets.

We will see how Price progresses, so please join me for the “Big Blog” Post for Thursday in a few hours!

Greetings again, Everyone!

We have had some time to “digest” a significant portion of Bernanke’s Testimony on The Hill, as well as today’ EIA Crude Inventory Builds and we see our Crude/Equities/Euro Correlations functioning well from an IntraDay View.

While in the “Trasditional” sense, The Fiber’s Correlation with Gold is always significant… we often see Oil playing a solid Role here as well due primarily to the Euro moving “loosely but generally” In Tandem with the NYMEX WTI Continuous Contract ( The West Texas Intermediate Futures).

The Rationale behind this is rather extensive to get into, but for the sake of my point… we can use the Classic “Inversion” of Strong Oil and Gold equalling A Weak Dollar… since both Commodities are bought and sold in Dollars.

This translates for us with a Rising EUR/USD correlating very highly with a Rising Oil Price… since both are seeing a Weakening Dollar.

Relative Performance so far today with The Dollar sees Crude off about 0.30 %, while the Euro is up about 0.10%.

OK… all of you know me very well by now and if I do not stop… I will start going into my “CVJ’s Bag of Analogies”, and ramble for days…so let’s move on to The Captures!   

Here we have The Hourly Views of both Units, where we can see how tightly Price is correlating on the IntraDay Basis… literally right down to The Wicks and “Directionality” of Support and Resistance Levels.

Give The Captures a Click, as always… and Post-Time is 18:30 GMT.

Of course… time for one of my “Rhetorical” Questions!

“Is this a Euro and Crude Move here?… or are we seeing The Dollar driving these two Ships…”

I have my Views… but what are yours?… Please feel free to Comment, as always!

As always, more Updates to come… so please join me after The NYSE Close, and we can check on those larger Equity and Index Correlations as well!

Greetings again, Everyone at The NYSE Close!

Sectors, The Indices, and overall Market “Sentiment” are all in positive Territory primarily on the back of continued Positive Earnings across many Sectors.

While we arrive at a 7-Day Positive Rally… I will bring up a Term all of you have heard me mention several times in the past few months.

“Bear Market Rally”.

Are we really seeing a semblance of overall Health here?… or are we simply seeing some Over-Extension and Over-Bought Conditions?

I would lean towards the Latter in my personal View. 

We certainly can see the S&P approaching the 960 Area, but in the “Case of The Correction”, as I like to say… the Extended Price Action truly may see a Immediate-Term Top there prime for a Reversal… hence a nice Daily Double-Top will then be in Formation.

This will obviously translate over to The Dow as well… despite the “Positive Earnings’ Sentiment.

Here is a quick View of The Daily S&P 500 to check on these Levels once again.

Post-Time is 20:50 GMT.

In looking at my “Real-Time” Currency Correlations, we can see some Disparity today with the poor Queen being the significant Driver of Depreciation… in Her Major and in The Crosses.

 While as of this exact moment, Price is beginning to stage Bullish Build from the previous “Re-Test” of the 1.6380’s Transitive Rollover Support… Price is still off about 90 Pips, and about 160 with the GBP/JPY Cross.

In contrast, EUR/GBP is holding on to its 40+ Pip Gain for the Day.

Here is the Hourly View of The Queen, so give it a Click for various Levels.

Price needs to Clip and regain the 1.6500 Handle here for the development of a “new” Transitive Rollover Area, and our IntraDay Trendline here will provide some Dynamic Support moving forward.

If we see Failure, and Price breaches the actual Lower Channel Daily Trendline here as well… then the 1.6200 Handle and beyond is certainly In View.

Now we move onto the Asian Sectors soon, where the Positive Sentiment will usually be picked up by the Nikkei and The Aussie Exchanges for our initial Indication of Continuation.

Please join me soon for tomorrow’s “Big Blog” Post as we also check in with how The Asian Sectors are progressing!

I hope to see you then!

Greetings once again, Everyone!

The IntraDay Market Corrections we have spoken of have surely come to Fruition, as The Dollar and The Yen strengthen on overall Market Sentiments.

The Dow and The S&P are largely “flat” coming into additional Bernanke Testimony, as we are, once again, dealing with Ranging and somewhat “Directionless’ Market activity moving forward.

We can see with The current EUR/USD Activity that even though we have plenty of IntraDay Volatility and Macro-Factors to use as Impetus for Movement… We really are still dealing with these “larger” Consolidations of Activity out on the larger Time-Cycles.

 Here is The Capture, so give it a Click for this Range we are speaking of, as price currently sits on the 1.4080’s Dynamic Support Areas. Continued Clearance here to the Downside may certainly see a “Re-Test” of the 1.3800 Handle of Mid-Term Support.

Give the Captures a Click, as always, and Post-Time is 17:15 GMT.

The Hourly View sees clear Delineation of the Price Appreciation, as we reverse with probable Profit-Taking and Equities Correlation weakness as we move forward.

A Clip of this Dynamic Support can certainly see the 1.4080’s “In Concert” with the overall Daily View.

As Bernanke continues on, we will monitor any additional Rhetoric moving forward and I will have an Update for you as we move towards the NYSE Close!

Please stop by for a visit then!

Greetings once again, Everyone!

As expected, The Bank of Canada held Rates at 0.25% in which the future Forecast to keep this Level through the middle of 2010 is a somewhat surprising consideration in terms of looking that “Far into The Future” for a Central Bank Entity.

We are quite accustomed in our present Climate to see Policy Views and Shifts simply going from Meeting to Meeting…although Canada’s emphasis on maintaining its 2% Target Inflation Rate is “In Line” with this type of rhetoric.

Our Thoughts on the concern of the Canadian Dollar strength were emphasized as expected,  as The Statement shed light on “The higher Canadian Dollar significantly moderating the pace of overall growth”.

Crude Oil certainly took advantage of this Momentum in its Correlation with The Loonie, while certainly having its own Appreciation lately due to positive Equities Correlations moving forward.

Let’s check in with both Units and observe the Price Appreciation, so give The Captures a Click for reference.

Post-Time is about 30 Minutes after The NYSE Open at 14:00 GMT… where The Dow is bidding up in positive territory a bit over 44 Points.

Here I have the new September Futures Crude Contract, which again, will vary slightly with the Continuous Contract on The NYMEX… where we see an IntraDay High so far of about $66.65 and a new “Transitive Rollover” Area right at the $66.00 Handle.

A deeper Correction… which is probable in my personal View…may simply take us back into the Consolidating Range of $64.20’s to the $66.00 Handle with the Conclusion of Bernanke’s Testimony here.

His emphasis will place Rhetoric on Macro-Economic Growth remaining in Contraction Mode which will give the Dollar and Yen a little boost of “Corrective Steam”, if you will.

The Strength of The Loonie here reaching the 1.0960’s but not being able to sustain the Level as Price moves back to the massive 1.1000 Handle… is precisely the Sentiment the BoC is after.

Corrections may also be due here with the Bernanke Testimony Rhetoric, as well as the Crude and even Gold Corrective Sentiment that looks to be on the way… although a Retracement of this “Wick” surely is possible through to the 1.0930’s Dynamic Support Areas as well.

As always on such an interesting Day, I will have more Updates for you as we move along!

The Curiosity of the potential Dollar and Yen Corrections against the backdrop of strong Equity Earnings will be a unique InterPlay to see concerning general Correlations between all of these Units!

Please join me soon!

Greetings again, Everyone at The Close!

The Dow and S&P 500 cross positive Territory with nice and consistent Gains on the back of Equities Appreciation, and talk of The CIT Bankruptcy not coming to fruition as Bond Holders “give up the ship” of 3 Billion in a Bailout.

The Dollar gets edged out by The Euro as we see about a 6-Week Low in the 1.4240’s, and on The Indices side, The S&P looks to 6 Sessions of Appreciation with the 956 Resistance-Area in View.

Here is The Capture, so give it a Click for reference… as our “Higher Equities/Lower Dollar and Yen Correlation” is Intact.

Post-Time is about 1 Hour after The NYSE Close at 21:00 GMT.

We now look to The Aussie since we checked in with Aussie Yen earlier in the Day… considering the Gold Correlation here is keeping both Units rather Well-Bid.

Here is The Hourly so give it a Click for all of my “Transitive Rollover” Areas that will take place and come to fruition in strongly-trending Climates. Price looks for a bit of Consolidation now, and any Clip of the .8190’s/.8200 Handle will provides even one more Transitive Rollover to add to our View here!

The Minutes due out of the MPC should offer no real “surprises” in Sentiment and text… as The RBA is, in my personal View, one of the most “effective” and fiscally-responsible Central Banks out there.

Speaking of The Commodity Currencies, I will have The Canadian Dollar for tomorrow’s “Big Blog” Post, since we have The BoC Rate Decision at 13:00 GMT… so I look forward to seeing you then… as well as later this evening at 6:30 GMT for the “Currency Majors Technical Perspective” Report to get our Tuesday on it’s Way!

Greetings again, Everyone!

With the “Risk Appetite Day” we are involved in, a detailed look at The Fiber reveals quite a bit about current Sentiment.

Various Confluence and Cluster Levels can be seen as Price moves on the Monthly through the Hourly Time-Cycles.

Here are the Captures, so give them a Click as always.

Post-Time is 17:00 GMT.

Our Long-Term Monthly sees Price just above the 50% Fib Variant Confluence Areas in what may be seen as a “loose” Bear Flag Pattern.

The Weekly gives us more Clarity with a larger Double-Bottom Formation here that would have given us an Indication of Sentiment back in February as it continued to form.

The Daily gives us a nice Consolidating Range with the 38.2% and the 50% Levels providing Dynamic Support and Resistance Areas.

The Hourly continues to use a 50% Fib Variant as a “Transitive Rollover” point turning from Resistance to Support… as Price continues to “Rest” a bit and consolidate.

This is certainly one of the joys of using Multiple Time-Frame Analysis… when we can find many Common Denominators with the “Anchoring” and “Structure” of Price as we move along!

We are about 3 hours from The NYSE Close, so I will certainly be back with you as we round out this Day of overall Risk Appetite!

Greetings, Everyone and Welcome to Monday!

We begin the Week, as we mentioned yesterday, with that continual “Push and Pull” on an IntraDay basis of Risk Aversion and Risk Appetite that we have been working through for months now.

Crude and Gold are up and slightly overextended on The Hourly Views, and the Dow and S& P are up a bit as of Writing-Time as well.

Let’s have a look at a couple of Yen Crosses that are leaning towards the “Risk Appetite” side for now on the Hourly Views, although Price is retracing…as is Gold and Crude as well.

Here are the Captures, so give them a Click as always.

Post-Time is 15:20 GMT.

The Pound Yen looks to build a new Upleg, and actually most of The Yen Crosses do as well. We consolidate at the Confluence Area of 38.2%  of the Weekly Downleg as Price is still adhering to and working that massive Weekly Bear Flag Formation…. as the larger Daily Channel Lower Trendline is providing Dynamic Support moving forward.

Aussie Yen is very similar in Price Action and Sentiment… as it looks towards the 77.00 Handle for a bit of Accumulation that will lead to Consolidation.

A slight Bounce will return Price to the 75.00 Handle where if we consider the recent Upleg… we may see some Bullish Builds coming into Play as Price moves along.

The excessive heat here has been giving me some connection issues, but hopefully all is fine now!… and as long as this remains so, I will have more Updates on the way for all of you!

Greetings, Everyone and Happy Sunday!

Writing-Time is 8:30 a.m. for me, so it is 15:30 GMT.

We are back at it again with another rather volatile and “noisy” week behind us… as our Good Friends, Risk Aversion and Risk Appetite, move The Dollar and Yen around with Activity.

We can always have some “Probabilities” in terms of Market Direction, a change in Sentiment, or even Reversals when we see “Classic” Textbook Chart Formations and Patterns coming into View.

We are seeing Hourly Double Tops and Bottoms, clear Consolidating Ranges, and “Transitive Rollovers” of Support and Resistance in many Units, so we have plenty of “Anchored Structure” to open in Sydney later today.

Perhaps we all are tiring of this, and could simply use some larger Macro-Direction moving forward… as we are still in those large Ranges we spoke of a couple Weeks ago out on the Monthly Views.

Again…it is Summer so we have different types of Order Flows and Sentiment moving in the Markets during the “traditional” Summer Periods.

Here is The EUR/JPY on a Daily and Hourly View, where we see Confluence in Price Action and Sentiment.

We lean towards Dollar and Yen Strength with Risk Aversion in the Immediate-Term, as we see a “loose” Head-and-Shoulders Formation on the Daily… that is “translating” to a Double-Top that is holding on The Hourly.

Here are both Views, so give them a Click, and we will surely check in with them after The Open later today.

A Symmetrical “Run” here sets up the Formation nicely, as the 133.40’s is a significant Area that will be negated and not complete the Transitive Rollover moving back to Static Support at the 131.30’s… or we will Breach Price and see the 134.50’s/135.00 Handle in The Near-Term.

Please stop back by after The Sydney Open as we get moving with our New Week, and I look forward to seeing everyone then!

Greetings, Everyone and Happy Friday!

My Apologies for my delay… I had a major Service Issue here, and all is fine and back to normal with The Servers and my Provider!

We jump right back in and in getting my Platforms back up and running, I immediately noticed a Double-Top Formation on the Hourly View of The Queen.

Give The Capture a Click, and Post-Time is about one hour ahead of the NYSE Open at 12:30 GMT.

Price clips the 1.6460’s Static Resistance Area, as we now move towards the 1.6200 Handle with significance.

The Elipsed Area from last Week will look to attract Price to these Congestion Zones, and if Price continues to Breach with Dollar Strength, then the 1.6080’s will also be In View.

We will l follow along with more Updates moving into the London Close, as well as throughout our last Trading Day of the Week!

Please join me again, and it is great to be back with you!