LOOKING AHEAD TO TUESDAY BY REFL ECTING BACK ON MONDAY'S ACTION

Bullish on most of the metals, except for Silver and still bearish on the US Dollar

METALS: 07/28/09 Higher closes for gold and silver and platinum while one tick lower for copper. Copper made its highest high and close since early October again still in a strong uptrend. I wasn't at work yesterday but something got messed up because I had a buy signal for August gold on 7/20 but it still showed up as a sell in my commentary which I had placed correctly last week. Gold made a new recent high with support at the 940 area basis the August contract. Silver made new a new recent high and close needing to close over 14000 basis the September contract to at least erase my sell signal. Platinum settled sharply higher giving me a buy signal. Buy Signal for Copper, Gold and Platinum; Sell Signal for Silver.

width=468

width=468

CURRENCIES: 07/28/09 Higher settlements yesterday for the British pound, Canadian dollar, euro fx and Aussie dollar while unchanged for the Swiss frand and lower for the Japanese yen and dollar index . All of the currencies continue to be in uptrends overall with the euro, Canadian and Aussie dollar making new recent highs and closes. The yen has now given me a sell signal making a new recent low and close. The pound has been is a sideways market since roughly the middle of June still poised for a breakout. The dollar also made a new recent low and close. Buy Signals for the Euro, Swiss franc, and Canadian dollar; Sell Signals for the Yen and U.S. Dollar Index.

width=468

 See the balance of my morning comments, including the Softs, Grains and Energies at my website. For my complete coverage, visit my commentary page at www.markethead.com/2.0