Regardless of fundamental beliefs, I make sure I keep in mind that fundamentals are fundamentals and charts are charts. It is great when they both say the same thing but it's a funny thing about funda's; they tend remain in place while the charts give clues that the they will be changing in the future. If we are to believe Bernanke and global central bankers, a new era of real inflation hawkishness is upon us. I believe Bernanke like I believe in Santa Claus, the tooth fairy or that NHL referees call good games. But policy makers would have us believe things are changing and it is wise to watch the charts closely on the odd chance they might jawbone this thing further than many think.For HUI the 70 day ema and several other data points show the parameters. The H&S if it is an H&S top, measures to a ridiculous 240. But if somehow we get the kick save of the century by panicked monetary authorities it will not be so ridiculous. Before such an event becomes possible however Huey would have to violate a ton of support as noted on chart.
USD? Well here is its weekly progress. "Ho-hum, so the world hates me" says Uncle Buck on the way to its first real resistance area.
