Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: Terry Whitman who wrote (3926)	5/25/2001 11:05:44 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Terry, yes the CRB did have a big down day, Crude has been weak the past few days and we saw selling in the entire energy complex. The elliot wave pattern on the daily chart has looked impulsive this year as we have headed lower during the first part of the year and it has looked corrective on the 7 week rally during April and May. So much of the action is predicated on this very strong US Dollar, which so many commodities are priced in. You have to go back to 1986 to see the USD Index trading at this high a level, of course the US dollar was coming down from It's massive bull market Peak of 1985 when it topped at 3.47 Dem and something like 200 Yen. The currency, bond and commodity markets are giving different projections of what the future of inflation, economic growth and what the FED's course of action will be. the 10 year note looks ready to head lower in price over the next 2 weeks, The next month will be interesting. Everyone have a great Holiday Weekend. John