July 15, 2010

Markets stayed within wide pivots on avg volume. Economic – manufacturing declines. BP caps well temporarily. GS pays a fine to SEC (good thing it gets free money from the Fed).

SP500 pivots for tomorrow: Narrow – 1085-1103; Wide – 1074-1110. Still in resistance.

Currencies: Strongest – Yen, CHF, Pound, Euro. US$ weak.

Short-term: 4 yellow – tending yellow
Intermediate-term: 1 green, 2 yellow, 1 red – tending yellow
Stock targets: 12% swimming; 22% neutral; 66% sinking

Will add a strongest/weakest currency indicator (which will include gold too) once per week. I’ve got to stop thinking of US$ as either the cash default or the source of funds for a trade/investment.

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