DOW Chart looks bearish with a falling MACD (bottom of the chart), but it is a bit oversold right now and has a rising Full STO (top of the chart). I anticipate we'll see a bounce back to the 50 day moving average (MA 50 - blue line) before the next MAJOR downleg - a decline that is already baked into the cake.
(Note for the record: I believe the DOW will take out the Mar 09 low of 6,400 before this "Economic Depression" is over - and it may ultimately fall much more than that - Sub 1K DOW)
S&P 500 chart is nearly identical to the DOW chart above - a small bounce up to the 50 day MA is more likely than a large drop from here
Gold is looking quite strong with a bullish (rising) MACD, though a bit overbought for the time being. That's not to say we can't reach a new all-time high from here (it is possible), but a short-term pullback (falling Full STO) can be expected at anytime
Silver Chart is very similar to gold, with a rising MACD, but the Full STO illustrates a slightly less overbought condition. Note: Many folks are calling for A MASSIVE price surge once $21 is decisively broken. Some are even targeting $27-30 within months... Silver could become interesting soon.
Dollar... Hmm. Could go either way from here. The US Dollar index has been hugging its 50 Day MA for a while now and the MACD, though rising, looks like it may be starting to turn downward (note the downward sloping black line). A very tough one to call for the short term, but I have no doubt where it's headed over the longer term.
So where is it headed for the longer term you ask? Well, let me put it this way: No country in the history of the world has ever been successful in printing their way to prosperity - and the US will be no different.
Bottom line: The US dollar index is going to ZERO over the longer term
Regards
Randy
