Home > Uncategorized > 2012/02/23: Quick Post: Technical Projections and Comments Now Available

2012/02/23: Quick Post: Technical Projections and Comments Now Available

© 2012 ROHR International, Inc. All International rights reserved.

The Current Rohr Technical Projections – Key Levels & Select Comments (as of Wednesday’s US Close) are now available through the link in the right hand column. We have summarized some of the most interesting and telling tendencies below.

Somewhat more upbeat economic data assisting the equities has also been putting a bit of pressure on the US dollar and primary government bond markets. Yet they have also been quite resilient, not exhibiting any UP trend reversing effects just yet in govvies, even if the US Dollar Index failure below .7950 seems much more negative.

It all fits in with a ‘macro-technical’ picture where different asset classes are choosing different interpretations of the implications of major influences, such as the Crude Oil price spike and even the net effect of the Greek Debt Deal (note the weakness of the DAX.) Adding to the somewhat perverse “it’s all going up together” psychology (except the US dollar) right now is the strength of Gold once again and explosion of Crude Oil, which would not normally accompany the combined overall resilient activity in govvies.

As such, we still see these markets as being very fraught, with the potential for a sharp reversal to the downside in equities a distinct possibility in spite of sustained strength so far. However, that said, it is very clear that the burden of proof late this week is now on the equities’ bears to knock the March S&P 500 future back below the most recently violated resistance in the 1,355-50 range, or potentially see a push above the 1,367 overall high from last summer. Without that failure, it is still more of the mild dips in equities maintaining a classical technical “walk up the ladder” progression.

Any push above that 1,367 high from last summer on a weekly Close would be more telling than previous violations of resistance. That is due to the DJIA and NASDAQ 100 already being out above the equivalent highs. Which is exactly why the situation is more so fraught than previous on this particular decision. A March S&P 500 future violation of 1,367 would likely encourage a move to at least 1,400 and possibly much higher levels. In that case, we suspect that (much like two weeks ago) the govvies and US dollar will turn psychologically stale; due at least in part to how well they have held up (even the greenback to some degree) while the equities have been trending higher early this year.

Thanks for your interest.

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