Home > Uncategorized > ROHR: Weekly Overview 2009/11/16 (after the US Close)

ROHR: Weekly Overview 2009/11/16 (after the US Close)

▪  Trends remain significantly contentious on equities’ push into major resistance in the wake of the continued central bank “liquidity forever” battle cry. While that may be led by the Fed and BoE, they are certainly aided and abetted by the ECB and even Reserve Bank of Australia, in spite of the latter’s two recent rate bumps.  On technical form it remains the bulls ballpark in spite of recent weakish news like the US Employment.  

Whatever else comes during this week’s heavy central bank and treasurer communications, it will be most interesting to see whether DJIA can push through the 10,500 Tolerance of major 10,300-350 resistance, and December S&P 500 future finish the week above its 1,102-08 major downside Gap from last October’s massive failure.  All of which gains that much more import in light of other asset class decisions.  While govvies also benefit from US ‘free money’, can the December T-note actually surmount its 119-16/120-00 resistance if equities get explosive on the upside from these sorts of levels?  Similarly, for all of the dire talk, US Dollar Index has held no worse than .7500 area, with a Tolerance down into .7450-30. Can those maintain if equities are ready to significantly extend their already massive rally?

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