Weekly Update

080716spxAD

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0807163dnh

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The first two charts are arguably bullish, with stocks appearing to have weathered a pullback with minimal price damage.

080716pump

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That weak dollar sure helps keep The Money Printing Pump in expansion mode.

080716goldequalyen

click chart to enlarge Dollar yen and gold are the same market these days.

080716nikspxyen

click chart to enlarge The Nikkei and the S&P priced in yen is also the same market.

080716spxingold

click chart to enlarge Quod erat demonstrandum, the Nikkei and S&P in gold are the same market, as indeed the chart shows they are.

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