The CRB made already the weekly Combo 13 and is currently in week SEQ 11. Left hand we have the daily chart about to make a second daily 13 that should pretty much mark the low within 2 weeks as crude makes its weekly 13 this week. The only point still conflicting with a low is the factor that the Dollar has not made the high yet which is a crucial corellation in this market mode. The Dollar index needs to rise to the 90 area to make a severe high. Due to the deleveraging story things are highly correlated and not necessarily economic background determines the price these days alone. stockmarkets can make their lows earliest in Jan - though it could be even first week which also might have an impact in the closely related markets. In any case Obama needs to kick off the new year with a monstrous aid program and it could be a 1 tril number - guess we have to get used to the tril numbers going forward. since Bush is even not adressing the car problem as he is still the acting president - he probably should rsign as of today. He has done historic damage to the US economy and should at least have the dececy to take his team and emigrate to Saudi arabia as he might get prosecuted otherwise for severly neglecting his office.
Thursday, December 4, 2008
CRB tech update
The CRB made already the weekly Combo 13 and is currently in week SEQ 11. Left hand we have the daily chart about to make a second daily 13 that should pretty much mark the low within 2 weeks as crude makes its weekly 13 this week. The only point still conflicting with a low is the factor that the Dollar has not made the high yet which is a crucial corellation in this market mode. The Dollar index needs to rise to the 90 area to make a severe high. Due to the deleveraging story things are highly correlated and not necessarily economic background determines the price these days alone. stockmarkets can make their lows earliest in Jan - though it could be even first week which also might have an impact in the closely related markets. In any case Obama needs to kick off the new year with a monstrous aid program and it could be a 1 tril number - guess we have to get used to the tril numbers going forward. since Bush is even not adressing the car problem as he is still the acting president - he probably should rsign as of today. He has done historic damage to the US economy and should at least have the dececy to take his team and emigrate to Saudi arabia as he might get prosecuted otherwise for severly neglecting his office.
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