while in a move down to 76.27, the long term indicators are showing divergence with the down move showing signs of ending.
the recent daily cycle trade thru 78.53 signaled a move up to 83.29.
time pressures are up and the trade pressures are extended down.
could look at the YCS [the short Yen ETF] for a long position.
Time and trade pressures both up.
this 4 day rip from the entry price of 90.28 is approaching its target of 98.96.
a move down thru 94.53 would start a correction of this move up.
the long term target is 156.35
Copper – closed below the short entry of 4.53 andf has moved quickly toward the 4.17 target.
time pressures are down and trade pressures are turning up.
Gold – has responded to the mid east turmoil. next target up is 1424.50.
trade pressures are extended up, and time pressures are down into the first week of March.
a move down thru 1382 would signal a new move down.
Silver – [futures] has made a run to the 34.69 target.
it did move into the second leg up and is now consolidating at this 34.69 target.
if it can get thru 33.63, then the next target up is 40.16.
trade pressures are extended up. time pressures are down also into the 1st week of March.
a move thru 32.77 would signal a move down.
The longer term targets of 1346 remain in place.
time and trade pressures remain up. But time turns down in the last weeks of Feb.
Daily – in the move up to 1341. a trade below 1317 will signal a move down.
trade pressures are up and the time pressures are neutral to down.
Dollar – in the move up from 77.70 with the next target at 79.61.
trade pressures are up and the time cycle turns up tomorrow.
the previous rally failed to take out the down move pivot.
so in the down move from 88.29 to 83.08.
both trade and time pressures remain down.
will need a move up thru 88.0 to signal a new move
Copper and silver appear to be setting up for a second move up. Gold not so much.
Copper – in the move up from 4.43 and finding resistance at the 4.65 target, 4.75 next target up.
a close below 4.51 would be cautionary.
trade pressures are up and time pressures are down.
Silver – consolidating in the move up to 31.58. 30.58 will signal a second leg up.
29.27 will signal a move down.
trade pressures up, time pressures turn down on the 21st of feb.
Gold – in consolidation at the 1373 target. next target up is 1412.25. but sitting on a short entry at 1341.
trade pressures are up and the downward time pressures will end feb 19th.
the long term target of 1345 remains in place. time pressures are up and extended. the time pressures turn down in May 2011.
the daily short entry went to the first target of 1251.
this move up today triggered the long entry at 1294 and took out the recent high.
[always interesting to see the the pressure changes work.]
the next target up is 1310.
[update; the 1310 was reached and is now acting as support. the next target up is 1326.]
trade pressures are up and extended and the time pressures are up; they peak Feb 15th.
the weekly dollar is still in the move down and has found support at 77.915. next target down is 76.97.
trade pressures are over sold time pressure is turning down.
the daily is in the move down to 76.95.
the time and trade pressures are turning up.
a trade thru 79.27 will signal the next move up.
Still in the long term move up to 97.84, but against the downward time and trade pressures.
a trade closing below 87.16 will signal a new move down.
the Egyptian demonstrations caused a spike down but the immediate crude price recovery has voided the short entry.
the daily move down [85.11] almost met the 84.56 target. this move up thru 88.01 starts a new move up to 96.71 with resistance at 92.28.
time pressures turn up on Feb 27th.
[crude is still the down channel so be careful with the long trade.]