http://www.murdockglobalinsight.com Global Insight for the Independent Investor Wed, 10 Mar 2010 22:42:36 +0000 http://backend.userland.com/rss092 en US equity markets are overbought, indeed ridiculously so. We seem to be levitating these past few days. While we have seen short covering on he way up to these levels the huge increase in volume in the last two days and the surge of the Nasdaq and Russell to new ... http://www.murdockglobalinsight.com/2010/03/10/are-markets-telegraphing-the-first-blush-of-inflation/ Last week's equity rally was a largely short covering affair as evidenced by the vertical rises during the day on Friday, the one way action, the declining volume, and the strong on-balance volume rise. Markets are near overbought, are generally in tight rising channels or wedges and, having risen multiple ... http://www.murdockglobalinsight.com/2010/03/07/get-ready-for-an-energy-and-precious-metals-rally/ This post is for members only, you must log in to view this post Username: Password: http://www.murdockglobalinsight.com/2010/03/03/strategic-portfolio-scorecard-03032010/ Reviewing the charts there appears to be a potential breakout for gold that may be imminent. Wait for the break before leaping. USD is looking like it may be temporarily losing strength. [caption id="attachment_2175" align="aligncenter" width="523" caption="Gold 03/01/2010"][/caption] http://www.murdockglobalinsight.com/2010/03/01/watch-gold-tomorrow/ Markets remain edgy and uncertain across the spectrum of equities and commodities. Until we see more evidence of a direction we will refrain from any real commitment to the long or short side. This week we have a sale of Greek bonds. Depending on how that plays out we could see ... http://www.murdockglobalinsight.com/2010/02/28/market-analysis-02282010/ The market gapped down below the lower trend line this morning and then...got bored and meandered. This is not the action of a market ready to sell-off so this may be a false break-out. The message is tread cautiously. The dollar seems to be having difficulty maintaining any gains today ... http://www.murdockglobalinsight.com/2010/02/25/flip-a-coin/ We were getting all set to be bullish but that is apparently not going to happen anytime soon. The situation in Europe is not going to resolve itself any time soon and it may well escalate into a full-blow crisis (no, it is not nearly at crisis stage yet). The ... http://www.murdockglobalinsight.com/2010/02/24/gathering-weakness/ The recent weakness has not completed and the charts are looking more and more like a substantial, additional leg down is in the offing. Here is the intra-day (30 minute) chart of SPY today. This is a classic set-up for a good drop once the market breaks the lower, up-trending ... http://www.murdockglobalinsight.com/2010/02/24/we-do-not-believe-this-rally/ This post is for members only, you must log in to view this post Username: Password: http://www.murdockglobalinsight.com/2010/02/24/strategic-portfolio-scorecard-02232010/ The broad equity averages continued to melt up Friday while commodities remained strong in the face of a rising dollar. With regards to the dollar, USD popped up strongly but was unable to hold anything close to the days highs on Friday. Volume in UUP (ETF) was unremarkable, volume in ... http://www.murdockglobalinsight.com/2010/02/21/market-analysis-02212010/