Whenever the market situation sends confusing, mixed signals, I like to go weekly. By going weekly, I mean zooming out on things a bit and looking at the price action from a weekly basis. When I started reviewing the charts this weekend, I noticed a ton of crosscurrents. The weekly view will hopefully help clarify some of the crosscurrents for everyone’s benefit:
(click on the charts below to enlarge)
USO (Oil)
GLD (Gold)
CRB (Commodity Index)
Copper
QQQQ
XLF (Financials)
Dow Transports
