Comments for November 16, 2009

LOOKING AHEAD TO MONDAY BY REFLECTING BACK ON FRIDAY'S ACTION

Buy Signals for (most) Currencies and the RBOB (gasoline)

CURRENCIES: 11/16/09 Higher closes last Friday for the British pound, Canadian and Aussie dollar, Euro fx, Swiss franc and Japanese yen while lower for the dollar index. The euro and franc continue to be in long-term up-trends with the latter looking stronger than the former but both still are in resistance areas. The yen closed higher continuing to be a sell unless settling over 11200 basis the December contract. The Canadian dollar also settled higher still in an uptrend overall with resistance over 9600 and support under 9400 basis the December contract. The pound settled higher still looking stronger overall. The Aussie dollar made a new CONTRACT HIGH CLOSE this time continuing its strong up-trend but still has its KEY REVERSAL in tact! The dollar, obviously, settled lower continuing in its long-term down-trend. I have a Buy Signal for the Euro, Swiss, Pound and Canadian dollar.

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ENERGIES: 11/16/09 Higher closes Friday for natural gas while lower for crude and heating oil along with the rbob. The crude and heat gave me SELL SIGNALS with the rbob very close. Gas made a new CONTRACT LOW but then settled higher in reversal type action still very bearish overall. I am holding a Buy Signal for the RBOB but a Sell Signal for Heating Oil.

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