John Pitera's Market Laboratory Message Board

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Strategies & Market Trends : John Pitera's Market Laboratory

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To: John Pitera who wrote (8383)	11/3/2007 9:12:18 PM
From: John Pitera	Read Replies (2) of 33421

The USD looks like it's getting set for a rally here. You can really see it in currencies like the Norwegian Krona NOK The USD/CAD the AUD, these things have had big runs and you've got really nice daily momentum diverges on charts like the USD/NOK and crossses such as the GBP/AUD. Looks like the instability in Pakistan may be a fundamental driver for a flight to USD safety. This should also mean some more weakness in equities, both US and Globally. I agree with our resident scholar-like Falcon that this sure could be that bigger top that I guess many folks have gotten tired of ruminating about. The NDX had a bearish looking rising wedge on the weekly chart, The CRB even looks like it could sell off for a while from here. On a more bullish note, Natural Gas looks like it could go up another buck and half into Dec. I've commented for a number of months that we really ought to see a Financial Panic in 2007, and just because we got out of October does not especially mean that we've whistled our way all the way past the graveyard. Who knows with O'Neil out of MER and Prince of of Citi this may be a time for the GraveDancers to be kicking up their heels ready to Party like it's 1999.

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