The Ugly Chart Contest

Well not so ugly.  The dollar index is hovering around its short-term trend, but is now below the 20-day sma.  No clear break of trend yet.

Crude looks like it is rolling over.  We heard Fareed Zakaria say on his CNN show the morning that Israeli Prime Minister Benjamin Netanyahu even admits  Iran is starting to “wobble,”

ZAKARIA: We’ve got to go on. I wanted to change the subject entirely, Iran. Mort, one of the things the president has done over the last few weeks has been to really ratchet up the pressure on Iran. For the first time that I’ve ever heard Bibi Netanyahu saying the pressure is working. The sanctions are working. The Iranians are wobbling.

Short-term it’s all about what the EU does with sanctions.

The VIX is collapsing.  Complacency?  Or yield seekers selling volatility?

And the winner is….Natural Gas as it continues its epic collapse.   An “infinite supply” of natural gas is realigning the geopolitics of energy markets and may be the “the Next Big Thing.”

Finally another chart to keep on the radar.   The U.S. 10-year bond is at key support and not much support if it breaks.

(click here if chart is not observable)

This entry was posted in Bonds, Crude Oil, Dollar, Ugly Chart Contest and tagged , , , , . Bookmark the permalink.

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