03-07-2014 : Follow up

The assumed wedge has not panned out, instead price has formed a Triangle

If the measured target is fulfilled the assumed wave (A) can reach the 28 area.

If this target is hit the following wave (B) should bottom in the range 25.05 (200 dma) 23.91 (Gap fill, 50 dma, lower BB)

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(Weekly Analysis)

Impasse is defined as a situation in which no progress can be made.

This week SPX has made two unsuccessful attempts to achieve a new ATH. This failure, even though should not be considered as a bearish sign, it comes with two stretched breadth indicators the McClellan Oscillator and the 10 dma of the NYSE Adv-Dec Volume.

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03-07-2014: Follow up

Since GDX instead of a wedge has formed  a continuation pattern (Triangle) the setup is on a standby mode.

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Author: Axel Merk

The cleanest of the dirty shirts doesn’t necessarily preserve your purchasing power. Sure, the U.S. dollar has beaten the Russian Ruble and some others of late, but when it comes to real competition, the U.S. dollar has taken a back seat. The U.S. dollar’s long-term decline may be firmly in place and investors may want to buckle up to get ready for the ride.

Two years ago, in the midst of the Eurozone debt crisis, the euro beat the greenback and last year the euro was the best performing major currency. Over the years, we have written extensively about what may be the most misunderstood currency. However before we discuss why the euro may be doomed to soar higher, we should zoom in on the fact that the Federal Reserve might have the best printing press of them all:

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