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Strategies & Market Trends : today's chart
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To: Claud B who wrote (1002)9/4/1998 11:33:00 PM
From: Claud B  Read Replies (1) of 1267
 
****CHARTS & COMMENTS****

There is much to be said for the week just concluded. Certainly too much
to go into
here. I'll keep it brief.

For those who don't want to read all the verbiage and are interested in
my "bottom line"
I'm bullish!!

1. The bonds and the dollar have gone their separate ways. Prime reason:
China has
decided to sell some dollar-denominated assets and put the proceeds into
Europe
as a diversification move. (??) Rates will decline further. (Bonds
higher)
2. The Summation Index has gone Acapulco cliff diving. It will
change...I think shortly
and dramatically.
3. The VIX is really "rubbing it in." <g>. It will retreat from these
heights...as early as
next week.
4. Our unloved Russell is at another key support line. I expect it to
hold.

5. This week I've added two charts I normally don't post but watch very
carefully.
They are of the Japanese Yen and Crude Oil. There's been much talk about
deflation.
Maybe not! Check out crude and the 5-35 oscillator. Nice divergence. And
the same
for the Yen. Other futures charts look similar...grains in particular.
If Asia and other
parts of the world don't have the money to buy grains, etc., why are
these markets
starting to show signs of life?

Finally, this week, the NYSE traded 4+ BILLION shares....a record!
I think the lows are in.....for now.

Factoid: Did you know that no Latin American country issues fixed rate
treasury notes
in local currency beyond one year? In other words, there is no bond
market south of the
border.

All have a great and safe Labor Day week-end.

Claud

--
pw1.netcom.com

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