CURRENCIES, FINANCIALS AND ENERGIES:
CURRENCIES: 05/08/09 Higher for the Euro Fx, Aussie Dollar and dollar index while lower the Canadian Dollar, British Pound, Swiss Franc and Japanese Yen. Nothing has changed for the euro and franc whichcontinue to be forming potential bottoms and are still close to buy signals. I still don't have them and,therefore,continue to stand aside until I get them or they turn back down. The yen closed lower with a wide trading rangeand arestill in a downtrend overall with lower lows and lower highs since the middle of January. The Canadian Dollar finally settled lower but still made another new recent high in reversal type action. The pound also settledlower making anew recent high first in reversal type action wrecking its bull pennant. The Aussie Dollar, on the other hand,closed higher again making its highest close since last October once again continuing to be the strongest of all the currencies overall. The dollar index made a new recent low but settled higher still needing to hold the 8400 area. The last three weeks of action has hurt the dollar which is now poised to continue its downtrend unless it holds the area mentioned above.
FINANCIALS: 05/08/09 Higher for the eurodollars while lower for the bonds and notes. The eurodollar made another recent high and close continuing its uptrend while the bonds and notes settled sharply lower with the former unable to hold its support area and the latter at the lower end. I am holding a Sell Signal for T-bond futures.
ENERGIES: 05/08/09 Higher settlements Thursday for crude and heating oil along with the rbob and natural gas. All of the energies made new recent highs and closes continuing their uptrends and now the natural has seems to be joining the uptrend.