Tues May 31

GBPUSD good down leg has started.

CURRENT TREND = DOW-SP500 bearish as daily charts exert their
influence once again. 14:50 GMT

CURRENT TREND = USDX neutral / EURUSD neutral / AUDUSD bearish
DOW-SP500 neutral 14:33 GMT

GBPUSD short 1.6486

Trend = USD neutral / EURUSD neutral

CADJPY short 84.081 [close 83.803]

Trend direction = USD bearish / EURUSD bullish.

We got the DOW/SP500 bounce after all …

USDJPY long 81.184 [close 81.635]

CADJPY short 83.421 [close 83.332]

USDJPY choppy basing on daily chart continues.

These recurring short covering rallies result in additional overextension
and market distortion. This is why an eventual crash is guaranteed.
Similar market distortion occurred during 2007 / 2008 leading up to
the past crash.

DOW/SP500 buying support / USD selling returns once again…
Trend = neutral USD / EURUSD

GBPUSD short 1.6484 [closed 1.6499]
NZDUSD short 0.8174 [ closed 0.8195]

A reader reminded me to post a SHANGHAI COMPOSITE chart which i’ll
do. It has been tracking sideways since mid 2009. Weekly and monthly
are both bearish to neutral and further downside is expected once
DOW/SP500 correction resumes.


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I read comments but they're not published. Troll IPs are automatically trashed. [crinia AT gmail DOT com]

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