Home > Uncategorized > ROHR: Weekly Overview 2009/11/23: Tsunami of Accelerated Important Economic Data Hits This Week

ROHR: Weekly Overview 2009/11/23: Tsunami of Accelerated Important Economic Data Hits This Week

▪  And that is after weakening signs were not enough to significantly weigh on the equities last week. Trends remain significantly contentious on equities’ failure from major resistance, even if they are still buoyed by the continued central bank “liquidity forever” battle cry. Which makes the early-mid portion of this week somewhat critical, as even the most influential non-US economic releases are mostly into Wednesday, with an accent on US housing data. Whatever else comes during the early-mid week data and report crunch, it will once again be most interesting to see whether DJIA can surmount the 10,500 Tolerance of major 10,300-350 resistance, and December S&P 500 future can also 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 violate its 119-16/120-00 resistance (or keep a strong bid at all) 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 the .7500 area, with a Tolerance down into .7450-30. Can those maintain if equities are ready to significantly extend their already massive rally?  While some fear a near term ‘Dollar Crisis’ related back to the activity in Gold, its strength is out of all proportion to relative US dollar weakness against other currencies.

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