DMA 23 Feb 2010

Got the down day yesterday in the SPX as well as commodities. The relationship is still not broken, and especially for Crude (/CL), I am looking for that break. The dollar rules again, and is now within a range. The SPX is hanging about the 50 day moving average and is ranging as well.

I am expecting more downdraft of SPX and commodities (USD to spike up) the later part of this week, without being surprised of a higher spike in SPX and commodities (USD to retrace a little) today if it happens.

So, game plan is still the same… for now, am just watching for some commitment.

Below is a photo of my expectation for the coming weeks/months. Some things do not click, but the picture should be sorted out soon. I still expect the downdraft of the markets with a high probability and am looking out for fundamental signals to confirm.  Breaking 1020 will trigger a trend change bias.



The Trendspotting MadScientist

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