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Brent Crude Sets New All Time Highs
Posted on 09/25/2006 16:39:06 | Link | Post Comment
0920 EDT Tuesday April 11 2006
Good Morning: We expect some rebound in the Equity markets today as the tensions that have driven Gold, Silver, Platinum, Palladium and Copper sharply higher along with the Oil complex wherein Brent Crude yesterday hit new all time record highs in London ease some in the next day or two or at least today. We have been commenting for some time now how powerful this Gold, Silver and metals trend is and over the past few days and weeks this has been manifested in a very dramatic fashion and we expect this trend to continue well into the Summer of 2006.
Another point of relief today is US Treasuries are rallying which may also take some of the pressure off Equities over the past day or two. On previous occasions Equities have rebounded stoutly to selloffs that have even been a tad severe, but Friday's reversal was one of the largest and more severe than we have seen in some time and there were a number of outside days and other technical issues that carry more weight in terms of reversals than in the past. But today could be telling on how the market may fare going foreword. Obviously any further breakdown today would not be a good sign as it would be a departure from the stronger activity we have witnessed throughout most of the first quarter, but today should put the past two days in some perspective and give us some idea of the unfolding new trends if any.
The US Dollar once again hangs in the balance and in of itself could also impact the Equity markets to some extent in the days ahead.
Trade Well from the Desk of Savant
Good Morning: We expect some rebound in the Equity markets today as the tensions that have driven Gold, Silver, Platinum, Palladium and Copper sharply higher along with the Oil complex wherein Brent Crude yesterday hit new all time record highs in London ease some in the next day or two or at least today. We have been commenting for some time now how powerful this Gold, Silver and metals trend is and over the past few days and weeks this has been manifested in a very dramatic fashion and we expect this trend to continue well into the Summer of 2006.
Another point of relief today is US Treasuries are rallying which may also take some of the pressure off Equities over the past day or two. On previous occasions Equities have rebounded stoutly to selloffs that have even been a tad severe, but Friday's reversal was one of the largest and more severe than we have seen in some time and there were a number of outside days and other technical issues that carry more weight in terms of reversals than in the past. But today could be telling on how the market may fare going foreword. Obviously any further breakdown today would not be a good sign as it would be a departure from the stronger activity we have witnessed throughout most of the first quarter, but today should put the past two days in some perspective and give us some idea of the unfolding new trends if any.
The US Dollar once again hangs in the balance and in of itself could also impact the Equity markets to some extent in the days ahead.
Trade Well from the Desk of Savant
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