Looks like the EURUSD is forming a bullflag

the Euro's rise in the past 2 months certainly surprised many prominent market forecaster's who were calling for euro parity. the recent pullback in the euro looks as if its creating a bullflag pattern on the 120min chart. it is reaching oversold levels currently, it could also be forming a inverse head and shoulder. When the euro breaks 1.41, look for it to hit 1.45 in a hurry.

Going Long ES and CL

went Long 2 ES just after the new homes sales data came out this morning at 1082 and unfortunately my CL were covered last night as it sold off nearly 3% this morning, i will be holding the ES with a relatively tight stop, the markets seem to be climbing back after that abysmal new home sales data which was the worst since 1963 or since new home sales data started being collected. if the markets are able to climb to positive today it could mean this pullback is near finished, if we finish on the lows we'll likely test the 1040's.. i went long 2 CL @ 75.6 (wish i had coved my shorts at the level) after the crude inventory data came out... i will keep a stop just below the lows of today

Short CL

Short 2 CL AUG at 78.70
looking to Cover at 77 or place a trailing stop beyond 77.50

S&P 500 holds key 1103 for now

the S&P 500 ES sept contract has held the 1103 line of support for now, we could see a test up, or a complete breakdown to a much lower level... keeping stops tight

How many years are left in the current commodities production?

looks like some commodities wont last into the near future....
a road map to which commodities might stage major rally's in the next 30+ years due to constrained supply

How much "money" out in the world will soon chase the power money?

looks like Niagara falls trying to fit through a garden hose

GOLD $1200 - CHECK, where to next?

in the overnight action Gold came within 50 cents of the $1200 mark before retreating back to the 1192 area, the bank of japan statement about QE certainly made the Asian traders move some money into physical power money pretty quick. the selling pressure was quickly absorbed as $1200 has now been taken out. the question is where to from here and in how long?

there has been much word of china now wanting to increase their Gold reserves to 5000ton or even 10000 Ton, this combined with nearly every other central bank in the world wanting to actually purchase gold is going to consume every ounce of gold being mined.
the road to $5000 will be quicker than most think
all along the way the non-believers will be saying it has peaked.....