Monday, 15 August 2011

Waiting game

My charting software is being uncooperative right now. I can see the charts just fine, but I can't email them to myself so that I can post them on this site in the usual format. Tonight I don't have time to find a way around the problem, so in place of charts, I'll post a few words about the markets that I am watching.

Stocks worldwide are in counter trend rallies, and so far there are no signs that those rallies are complete. . If those rallies carry on higher, we will have to be more patient to see if I am right about them being counter trend!

AUD/USD is also in a counter trend rally.

EUR/USD is stuck in a triangle, which must break out strongly soon, or I will have to conclude that the triangle is morphing in to a larger and even more frustrating corrective pattern.

The possible Gold hourly chart Head and Shoulders pattern I posted on the weekend is still a live option.