Sunday, April 28, 2013

New Week- On Watch

Let me start with one chart and that is of one of the Twins from last week, the US Dollar
I know I showed, what I felt were topping patterns, in the Dow and the Dollar last week. I am only showing the dollar because I really believe that IT has run out of gas to the upside. If that chart is not hinting of a top and the US Dollar rallies from here that would only be because GLOBAL Equities start to sell off in a major way. Do I think equities are going to roll over and die, my opinion is that they should, but the truth is look at what happened this past Friday- Lousy, off the mark GDP and the Dow closes the week on a positive note!

Are you a fool or are you starting to see the cracks in the so-called foundation? The economy is nowhere near what THEY want you to believe, how many times do I have to say it? I don't have the support to get my thoughts across the TV as many times as you are treated to the daily BS spewed to you on a daily basis. I am not going to apologize for posting this again, this is the best image to get the point across of how thing truly work in the States
I really do not mean to rant, I am in a great mood on this beautiful weekend morning but the SHIT that is going on the past few years really upsets me. I do not care about me being wrong because of the ILLUSION  being kept alive. What I do care about is helping as many people see through the BS before it is too late. One comment on Gold- if you do believe what you read here and actually follow along with the markets, I can only hope you are using the BS that has happened in Gold and Silver to accumulate like the BIG Boys are right now!

Back to the Dollar, sorry to get off track but I want to get my point across! Go back up to the chart on the dollar and click on it to get a good view. Here is what we have going on, the Euro held 130 this week but really has not moved much, the best movers were actually the Yen, Pound and CAD. Sorry not to post all the charts but the moves from last week really were not much to view, however if you followed along and trade these markets, it was a decent week to be profitable. The Aussie had a back and fill week and finished around 10250 and I still feel you can trade it with minimal risks to the downside, that may sound confusing- I like the Aussie to go up and I believe it has much more upside potential than downside- the same goes for the Euro. I feel that if the Euro breaks 12950 and the Aussie 102 from this point, they will have much farther to fall!

So this week, we finish out April and start the month of May with the ECB meeting on Thursday and the unemployment number from the US on Friday. Those are the 2 big events for the week. It is expected or should I say factored into the market, that the ECB will cut rates this week. Who knows, what I can tell you is that has been expected for quite some time and the ECB never delivers and I was never expecting it, however, this week they may just give the markets what they want and cut rates and the EURO may rally from this. Remember the market does not necessarily always do what the traders expect, and right now I am hearing a ton from the EURO bearish crowd and I am of the opinion that the Euro is going higher because the US Dollar will ultimately trade alot lower in time!

I thank you all for stopping by over the weekend to read what I have to offer and I hope you all enjoy the rest of your day! Thanks Again
Martin



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