Charts and Commentary

By: Marty Chenard | Wed, Sep 20, 2006
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Yesterday, we said, "This week, we are at the cusp of commodities, oil, and gold making a major trend change to the downside, or holding supports and having the trends in place. This is a very important juncture because of Bernanke's fight to control inflation and bring it down. It impacts what he does on interest rates, and that effects the economy and the stock market."

While Tuesday showed that commodities, oil, and gold were all bouncing up off supports, yesterday's market action brought them all down to retesting their support levels again.

This is really an important event because it could mark the end of a multi-year up trend.

Consider the possible implications...

If they all break support, you have to think of the turmoil this could create in the market as investors rush to the selling line to dump commodity, oil, and gold stocks. This would cause a major sector rotational change in the markets and portfolio rebalancing.

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Marty Chenard

Author: Marty Chenard

Marty Chenard
StockTiming.com
Asheville, NC 28805
Tel: 828-296-1200

Marty Chenard is an Advanced Stock Market Technical Analyst that has developed his own proprietary analytical tools and stock market models. As a result, he was out of the market two weeks before the 1987 Crash in the most recent Bear Market he faxed his Members in March 2000 telling them all to SELL. He is an advanced technical analyst and not an investment advisor, nor a securities broker.

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Source: The Contrarian Take http://blogs.forbes.com/michaelpollaro/
austrian-money-supply/