Richard Suttmeier’s latest post,”The Return of the Multi-Year Bear Market”, examines the Dollar Index, Copper and Crude Oil’s struggle around 200-week simple moving averages, and Deteriorating Technicals for US equities.
The Dollar Index is a bottoming process. The daily chart shows rising MOJO with the 21-day simple moving average at 76.08 and the 50-day at 76.85. The index has been below its 50-day since April 22nd.
Further, Comex Copper and Nymex Crude Oil straddle their 200-week simple moving averages. The weekly chart for copper shows the importance of the 200-week simple moving average at 294, as MOJO flirts with rolling over below weekly support is 286.19 with monthly resistance at 324.52.
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About Richard Suttmeier:
Richard Suttmeier’s latest blog analyzes earnings from Intel, the most important technology stock, JP Morgan Chase, the most important “too big to fail” bank, and break-out’s for Comex copper and Nymex crude oil.
Richard Suttmeier is the chief market strategist for ValuEngine.com. Richard is an industry leader on the housing market and banking system and writes a newsletter covering The Great Credit Crunch. He produces a List of Problem Banks by name. He produces daily and weekly briefings covering the US Capital markets. Richard Suttmeier’s ValuEngine Four In Four video is available on forextv.com.
About EQUITIES Magazine:
Since 1951, EQUITIES has served both retail and institutional investors by examining industry trends, analyzing strategies and opportunities, and profiling financial leaders and emerging public companies. Its global audience increased dramatically after the launch of its European and digital versions, as well as its website, which provides free real-time market quotes and a free customizable, real-time portfolio-management interface. EQUITIES is also one of a select group of publications available on the Apple iPhone.
