Mid term NDX & DJIA

It seems that Nasdaq100, who was the leader of the Hope rally since March 2009, has finally given up:

 

But the DJIA is still able to post some new highs, at least at 12600.

Short term USD index

The dollar's move since 8th of January doesn't seems to be complete. Another wave down should occur after the correction around 78 is done. The potential target is around 76.2.

DJIA: this is the end, my only friend (c) The Doors

The ods are high, the advance of the DJIA from 26/11/2010 is over:

 

 

XLE shows the way?

The year end rally for AUD/USD has finished exactly 31st Dec. The odds are high the cyclical strength of the green back is here for rather a long period of time. 90 in the index (DX) should be taken this year without any difficulty.
But for the moment a quick look at the XLE ETF. The rally started in July is coming to the end, my preferred date for the top is around the state of the union speech (Jan 25th):

Year end rally?

The very important currency pair AUD/USD may be signalling an imminent end of the correction and the start of the year end rally. The top around 1.05-06 may be a very long term one, but for the moment, let's forget all the future austerity programs and chinese inflations.

Make your choice Neo: red our blue

2 possible midterm scenario: blue and red one. I don't take in account an outcome where Bernanke wins and we get the DGDF (Dollar Goes Down Forever).
I prefer the red one, where the world economy as well as Bernanke's credibility (if there is still any) will be killed by high commodities prices.

Short term USD index, update

The current count for USD index is confirmed, I think there are pretty good chances the dollar has bottomed, but I'd like to see some more upside action before the correction starts:

The short-term USD index

The previous count of EUR/USD is still valid. Here is an USD index count, which has a clearer stucture:

DJIA short term update

The market seems to be in the final 5th wave of the move started in late August.

And the fuel (fear ) is burning out quiet fast:

USD: possible targets