Thursday, November 29, 2012

A Pattern Potpourri


If the futures maintain their bid this morning, it looks like the NDX has thrown caution to the wind and will make a stab at the 50% retracement level from the November 16th intraday low. 
The Australian dollar has turned down after last nights capex report. The chart below has been updated from yesterdays close of the note from last week (see Here) on the Aussie.  
Silver turned down sharply yesterday - although recovering spritely with the risk tide that came back into the markets. The following charts were updated from last weeks note (see Here) on silver.  
Considering the futures this morning, it looks like the dollar (UUP) will make a run at the comparatives equivalent (61.8%) retracement low ~ 21.88.