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Stock and Finanacial Markets Trading Analysis Worth

U.S. Dollar Rally is Still Concerning for Stocks and Commodities

Stock-Markets / Financial Markets 2010 Dec 19, 2010 - 03:39 AM GMT

By: Chris_Ciovacco

Stock-Markets

Best Financial Markets Analysis ArticleAs we head into the final two trading weeks of the year, the U.S. Dollar Index has completed two of the three steps typically associated with a change in trend: (1) the black trendline was broken, and (2) a higher low has been made. The third step would be to make a higher high via a daily close above 81.19.


In the chart of the dollar above, the Rate of Change indicator (ROC at bottom) has made a few higher lows and higher highs, which leans toward the bullish camp. If we fail to see a close above $81.19, the door would remain open for the bears. One possible bearish development is the fact that ROC has not cleared the zero line again.

In our December 15th comments on the 2011 outlook for stocks, and risk assets in general, we presented several charts including the monthly chart shown below. The version shown here is as of Friday’s close. A move to 1,315 sometime in 2011 seems within reason.

In the shorter-term, the S&P 500 faces several forms of possible resistance, including the long-term trendlines shown below. As noted, we are making a second pass at the upper blue trendline, which helped stem the market’s gains in April of 2010.

By Chris Ciovacco
Ciovacco Capital Management

    Copyright (C) 2010 Ciovacco Capital Management, LLC All Rights Reserved.

    Chris Ciovacco is the Chief Investment Officer for Ciovacco Capital Management, LLC. More on the web at www.ciovaccocapital.com

    Ciovacco Capital Management, LLC is an independent money management firm based in Atlanta, Georgia. As a registered investment advisor, CCM helps individual investors, large & small; achieve improved investment results via independent research and globally diversified investment portfolios. Since we are a fee-based firm, our only objective is to help you protect and grow your assets. Our long-term, theme-oriented, buy-and-hold approach allows for portfolio rebalancing from time to time to adjust to new opportunities or changing market conditions. When looking at money managers in Atlanta, take a hard look at CCM.

    All material presented herein is believed to be reliable but we cannot attest to its accuracy. Investment recommendations may change and readers are urged to check with their investment counselors and tax advisors before making any investment decisions. Opinions expressed in these reports may change without prior notice. This memorandum is based on information available to the public. No representation is made that it is accurate or complete. This memorandum is not an offer to buy or sell or a solicitation of an offer to buy or sell the securities mentioned. The investments discussed or recommended in this report may be unsuitable for investors depending on their specific investment objectives and financial position. Past performance is not necessarily a guide to future performance. The price or value of the investments to which this report relates, either directly or indirectly, may fall or rise against the interest of investors. All prices and yields contained in this report are subject to change without notice. This information is based on hypothetical assumptions and is intended for illustrative purposes only. THERE ARE NO WARRANTIES, EXPRESSED OR IMPLIED, AS TO ACCURACY, COMPLETENESS, OR RESULTS OBTAINED FROM ANY INFORMATION CONTAINED IN THIS ARTICLE. PAST PERFORMANCE DOES NOT GUARANTEE FUTURE RESULTS.

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