http://www.fxstreet.com/fundamental/market-view/mikesanalysis/http://www.fxstreet.com/fundamental/http://mediaserver.fxstreet.com/images/fxstreet-provider-logo1-en.gif7http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-17.htmlMore of the same... spot gold prices continue to climb to new all-time highs, while the dollar index continues to slump just below 75.00 (which my work argues is part of a developing intermediate term bottoming pattern that will be completed during the remainder of 2009, ahead of a powerful recovery rally period). Meanwhile, my next optimal target zone for spot gold is $1140-$1150. Do you think that the subject of the falling dollar (the peg for the Chinese currency, as well as most of theTue, 17 Nov 2009 06:01:24 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-17.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-09.htmlThe strength of this week¹s upmove in the S&P 500 had a familiar ³feel² to it. Why? After such a nasty close last Friday, prices managed to avert a plunge on Monday morning, turned up, and (perhaps with a nudge from Warren Buffet on Tuesday morning) did not look back. Friday¹s ³bad news is good news² reaction to the Employment Report turned out to extend, perhaps fuel, additional strength for a fourth up-day this week. Actually, we have seen consecutive up-days in the post-March bullMon, 09 Nov 2009 09:57:46 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-09.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-04.htmlFriday's action could have been one of the more destructive technical sessions in recent memory. Not only did the day's weakness totally reverse Thursday's upside reversal gains, it closed on the low for the day and for the week. Furthermore, let's notice that on the enclosed weekly chart that this week's close broke and sustained beneath 1) the Aug-Oct support line; 2) the 10-week (or 50-day) MA; and 3) the major up trendline that originated off of the March 2009 low at 666.79. Finally, let'sWed, 04 Nov 2009 11:50:02 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-11-04.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-10-12.htmlAs of this moment the Market Vectors Gold Miners ETF (NYSE: GDX) is warning me that the upleg from the October 2 low at 42.28 to Thursday¹s new high at 49.52 ended ³something² on the upside. My sense is that more than just the most recent upleg likely ended, which means that the upleg off of the July pivot low at 34.05 also ended at 49.52 on Thursday. If my work proves accurate, then Friday¹s weakness initiates a decline that has an immediate target in the 45.00-44.60 area, followed by 41.40Mon, 12 Oct 2009 07:33:08 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-10-12.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-28.htmlThe juxtaposition of the Bollinger Bands with the price structure has caught my attention ahead of the weekend. Let¹s notice that since Wednesday¹s peak at 1075.75, which reversed from just beneath the upper BB, the S&P 500 emini price declined directly towards the rising 20-day moving average, which represents the mid-point between the upper and lower BBnds. Within a bull trend accompanied by rising momentum (RSI), it is typical of a decline to hold in and around the 20 DMA and then turnMon, 28 Sep 2009 08:21:30 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-28.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-14.htmlThe dollar was on the defensive Friday after holding its value relatively well since Wednesday¹s upside explosion in gold prices. Let¹s notice that the Dollar Index (DXY) is pressing on its key Aug-Sept support line near 78.00, which is an ominous sign heading into a three-day weekend. The fact that gold is holding nearly all its three-day gains suggests strongly that money is moving into the precious metal and now more obviously and aggressively is moving out of the dollar. Good for holdersMon, 14 Sep 2009 11:07:36 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-14.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-07.htmlThe dollar was on the defensive Friday after holding its value relatively well since Wednesday¹s upside explosion in gold prices. Let¹s notice that the Dollar Index (DXY) is pressing on its key Aug-Sept support line near 78.00, which is an ominous sign heading into a three-day weekend. The fact that gold is holding nearly all its three-day gains suggests strongly that money is moving into the precious metal and now more obviously and aggressively is moving out of the dollar. Good for holdersMon, 07 Sep 2009 09:37:21 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-09-07.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-08-31.htmlMy hourly work is ³warning² me that crude oil¹s powerful rally off of yesterday¹s low at 69.83 into the morning high at 73.3 exhibits a bullish profile, which indicates to me that new uptrend might have started rather than the strength representing an oversold bounce after Tuesday¹s powerful dwonside reversal spike. If the bullish scenario is unfolding, then at no time should oil prices violate 69.83. Conversely, pullbacks into the 71.50/00 area likely will be met with another round of buyingMon, 31 Aug 2009 09:46:01 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-08-31.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-08-11.htmlThis week¹s surge in financials in general and the TARP banks in particular ran the Financial Select Sector ETF (XLF) from last Friday¹s close at 130.01 to Thursday¹s high at 14.35, or 10.3%. However, as powerful as the upmove might have been, and still is, it may not be more powerful than the two-year down trendline that cuts across the price axis currently in the vicinity of 14.30. This is a classic case of a strong near-term upmove smacking into a stronger intermediate-term downtrend. InTue, 11 Aug 2009 09:59:07 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-08-11.htmlhttp://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-06-29.htmlLet's have a look at the pattern developing in the iShares Brazil ETF (EWZ). Forgetting for a moment that this is a chart of the Brazilian country ETF, what should we do with this chart pattern? Let¹s understand that many charts look like this one: IFN (India), FXI (China), EWH (Hong Kong) just to mention a few. So, do we treat the Nov-June upmove as a completed recovery phase against the BIG bear market? If we do, then the decline from the 6/11 high at 58.72 into this week¹s low at 49.39Mon, 29 Jun 2009 10:08:18 GMThttp://www.fxstreet.com/fundamental/market-view/info@advicetrade.com (MPTrader.com)http://www.fxstreet.com/fundamental/market-view/mikesanalysis/2009-06-29.html