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Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: NickSE who wrote (17891)	6/19/1999 12:17:00 PM
From: TimbaBear	Respond to of 99985

The chart you posted on the $GNX (Goldman Sachs Commodity Index)looks like an almost perfect textbook example of a retracement after a large run-up which turns into a cup and handle formation poised for a break-out to the upside....and maybe it is, however, I took the same chart and asked for the 60 minute chart and WOW, did the outlook change!....the 60 minute version looks like a right shoulder is forming....maybe both reads are correct in different time frames.

To: NickSE who wrote (17891)	6/19/1999 12:47:00 PM
From: Haim R. Branisteanu	Read Replies (2) \| Respond to of 99985

Nick, thanks for the links. I am not sure which index the bond traders are following but based on GSCI definitly the CPI/PPI does not reflect the rise in prices, I think it mimics more the CRB. Now we have substantial service inflation which is not reflected in any of those indexes. Buy gauging the inflation rate based on steady service & housing cost inflation (forget the 5% rise in housing & medical care) <G>, the PPI and CPI are not consistent with the rise in the GSCI and relative flatness of the CRB. So something is wrong with the government calculation and I think the Bond market knows it and therefore failed to rally wen the CPI was released and waited for AG who played a number on them <G>. BWDIK Haim