Home > Uncategorized > Weekly Overview 2009/12/07 (after US Close): Confusion on Some Markets Fits in with the Potential for Risk Appetite Reversal Across All Asset Classes

Weekly Overview 2009/12/07 (after US Close): Confusion on Some Markets Fits in with the Potential for Risk Appetite Reversal Across All Asset Classes

▪  While that is more prominent in some areas than others, the basic theme is consistent with what was going to happen when banks got around to withdrawing some of the extensive risk asset reflation liquidity. 

▪ And then there are sheerly critical technical levels with which the markets are dealing, as noted in our recent observations DJIA has failed to push through 13,000-13,500 resistance Tolerance into the 10,500 area, consistent with the December S&P 500 future only managing to range temporarily above the 1,102-1,108 yet still not quite hit its Tolerance up into the 1,120-25 range.  US Dollar Index strengthened markedly from its .7450-30 support while December Gold’s radical upside acceleration came crashing back down below major 1,200 oscillator resistance, leaving significant Exhaustion Gaps reinforcing that area as resistance. 

And even though they weakened quite a bit after the US Employment report, govvies were not so far below key supports at December T-note 120-00/119-16 (March contract equivalent of 118-24/-08), and…

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