Fat fingers?

May be, may be not, after all it's not that important:

The Gold/Silver ratio is surging 3d day in a row:

And what's about US treasuries, they were already rallying for some weeks:

So, was it really because of a fat finger?

Precious metals: time to get out

Gold and silver were in the uptrend since the beginning of February. But it seems their run up was a mere  correction which is about to be done.
Gold has corrected 78% of its initial decline since December '09.

The move down will be confirmed after the breach of the low trend line (now at about 1130):

 As for the silver, the story is about the same, except that the correction was  a bit deeper.

 And as for the broad market, the  drop of PMs will be anything but bullish.

Thoughts about the primary trend

An excellent analyses about the current market from Claassen Research.
They explain with historical charts and data why we shouldn't pay too much attention to the market's internals. This time it's really different and is similar to  the previous bear market rallies.
A must read.

The 2nd wave down is already on, just look in the right direction

While Wall Street is pushing higher every single day on the upbeat earnings, let's look what is going on on the other side of the Atlantic  ocean. Greek, Portuguese, Spanish and Italian  equity indexes are below.
Just wondering, if the size of US government debt ever become an issue, will the reaction of Wall street be the same as in Greece?

Is it it?

Great news, they have finally did it! Great news for the Euro bears in the long run, but a bit of pain for the moment. May be, again until 1.3850.
Meantime AUD/USD has flashed a big sell signal this morning dropping after a gap up  in the clear 5-wave pattern. We have missed by 16 pips  the Nov' 09 recovery high. Is it the end? Will AUD be joined by its peers CAD and silver in coming days?

Will Greece freeze Eastern Europe's credit markets?

Are we heading to the contagion of Greece problems to Eastern Europe and other PIGS? If even greek citizens don't believe in their country's financial system by pulling out their savings by billions, who ever will? In my opinion the game over for the whole region is starting to loom.

USD index: consolidation

It seems we have entered the consolidation mode on USD index. Our position comparing to the previous dollar's wave up is on the chart. I would suggest that the next wave up for the USD index will involve all major currencies as well as precocious mettals. May be, from the fundamental point of view,  it will be provoked by the change of FED's language after some signs of "improved" economy.

Current EW count for EUR/USD

The previous call about 5th wave has been wrong. Instead, we have entered  something what could be called 3d minute wave, which seems to be about done. In any case the upside is capped by the 1.338.

EUR/USD: Now, take a deep breadth

The EUR/USD move (toward 1.3406) this morning wasn't confirmed by other currencies neither precious metals. Looking closely at wave structure I consider the 1.34 as a very likely bottom of the 1st minute wave of 5th intermediate (1st primary). The target rage for the correction's end should be within 1.355-1.369.

More Secure, more treasuries

Wow, an average american has finally started to listen to the Fed:

U.S. households increased their holdings of Treasury securities to the highest level in at least two years, according to data released by the Federal Reserve on Thursday. Households held $795.2 billion in Treasurys at the end of the fourth quarter of 2009, up from $735.5 billion in the third quarter, as Americans continued to find U.S. debt an attractive investment amid continued uncertainty over the strength of the U.S. economic rebound and sovereign-debt problems abroad. That's the highest level of holdings in any quarter since at least the beginning of 2008, according to the flow of funds data. The Fed's household and nonprofit corporations sector include domestic hedge funds.

That's sure we have a huge  reserve of dry powder for the gov. bond market here. 60 billions of inflows during the quarter where SPX was climbing without any meaningful correction.