Wednesday, 3 August 2011

Stocks smashed

Long term weekly charts shown, to underline the significance of the moves lower this week. HUGE significance. The trend line break by the S&P 500 was the last puzzle piece remaining to be put in place, and now the next leg lower of the global bear market which started in late 2007 is commencing, likely to below the 2009 lows.

US S&P 500...



Aussie ASX 200...



German DAX...



UK FTSE...


I'll update Asian indexes in coming days.

Gold and Silver up

Daily charts.

I wonder if the nearby trend line will provide resistance for Gold? I wouldn't bet on it at this point, but worth keeping an eye on...



Silver...

AUD/JPY breaks long term trend line

AUD/USD, EUR/USD, GBP/USD lower

Daily charts.

AUD/USD smashed after central bank meeting kept interest rates unchanged...



EUR/USD...



GBP/USD...