Money Flow across the board seems to point to higher prices, and we stick by our thoughts that the S&P 500 will test 1200, although we don’t expect it to move much higher than this in the short term.   The US bond market is signalling a return to higher yields, as bond funds continue to weaken.  Is the bubble in the US bonds market about to Pop.  We think it has already, and are closely watching the long bond.

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Summary:

In the latest stock market report, we see the market once again butting up against S&P 1120.  We think this time it has enough momentum to break through this Level, and expect the market to carve out a path to 1200 over the next few months. We also take a look at what appears to be a dangerous topping pattern setting up in the US 30 Year Bond.

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In the latest stock market report, we take a look at what is now becoming a serious level of resistance, S&P 1120.   It has acted as a magnet for the market on many occasions in the last year and has some major technical significance.  We now have a comfirmed Hindenburg omen in effect, signalling an uncertain market.  Is this signal overrated?  Is it a better sign of a bottom than it is an omen of a coming crash?

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Failed Moves create Strong Moves.  In the latest Gold Market Report, we take a look at the recent test of support at 1150,  with major support sitting just below at 1135.  This has all the makings of a false breakdown.  It looks like we have a great setup for a run at fresh highs.  Price action & money flow of the gold stocks did not confirm the recent breakdown in futures prices which bottom on 27/7/07.

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In the latest Forex Market Report we shine the spotlight on the Aussie Dollar and what appears to be an almost completed descending broadening formation.  Macro economic factors are fully supportive of the technical pattern that we are seeing, which is something that I always like to see.  The medium term technial picture couldn’t be more bullish.  If we see a breakout and  test of the .94 level it looks like we will be off to price targets of around .9681 then onto a target of $1.03 against the US Dollar.

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In the lastest stock market report, we take a look at the US stock market and its recent decline.  What stands out is the broad divergence in money flow occuring on this decline.  Our thoughts are that support around the S&P 1040 level is quite likely to hold.  Bullish divergences favour the odds of a snapback rally to the strong 1120 resistance levels.

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Tought times appear to have been a thing of the past, but it could be too early to tell.

If we take a look at a chart of the Australian Stock Market, we might be a little surprised to find out what is going on.