"If you’re rich you get a bailout. If you’re poor you get a handout. And if you’re middle class you get left out."

ASX200 Daily Close @ 08/28/2012

The looming battle of the 2 technical signals; either the 'inevitable' positive crossing 50/200day SMAs will attempt another 'buy signal' (the last one was a 'heroic' failure), or the MACD's 'Sell' cross is @ the very least foretelling a test of the 50/200 circa 4200/10 before the true intent of the nascent rally is fully known.

COPPER's turn to 'hesitate'?

COPPER Daily Chart Close @ 08/23/12

Copper now scores an 'indecisive' daily chart pattern; right where it is supposed to.
Following on from the NDX100; is time now 'out' for the pre- QEIII rally?
Super September looms large as the FED, Jackson Hole & the ECB are ALL supposed to 'ride to the rescue' and pull some more rabbits out the proverbial 'monetary' hat.
Where's Rocky & Bullwinkle when we need them?

Singapore's STI 'the canary' as well?

Straits Times Index (STI)  Daily Close @ 08/23/212

Always a good 'signal' for where potentially Asian stocks are headed over the medium term, the $STI appears to be on the cusp of succumbing to the Negative Divergences in place since mid- July.
Let's see.............

NDX100 'marks' the High (end of rally)?.......

NDX100 Daily Close @ 08/23/2102

If we are to use the NDX100 as THE 'Risk- On' measure (& who doesn't?);
then the Outside Down Day registered Tuesday does give us the 1st Tactical Sign that this rally is probably 'done'.
If so then the simple 38% retrace, coincident with 2x's previous highs circa 2665 shall be our first 'port of call' on any retrace.
"Engine room............"

Interesting point for the BOVESPA.

BOVESPA Weekly Close @ 08/17/2012

The 'dotted blue line' remains valid (just) until we witness a series of Daily Closes above it or a Weekly Close above.
The Large Range Indecisive Weekly Candle from last week suggests a 'pause' @ the very least, the China $SSEC Index's anemic performance weighing on the Emerging Markets & Commodity types.
Iron- Ore & Coal Prices are the $'s to watch as they could 'pull the rug' from under the whole 'downstream' economic 'miners'.

BOVESPA puts on some 'samba'......

Brazil's BOVESPA Daily Close @ 08/16/2012

Close but no 'negation' yet of the Outside Down Day witnessed 2 days  ago.
Above the 200day SMA @ 59577 lies the 50% retrace & previous lows circa 61,000.
How 'high' is 'high' before some consolidation of the rally occurs?

BOVESPA reversal @ the 200day SMA.

BOVESPA Daily 08/15/2012

Outside Down Day right @ the 200day SMA & below the 60K zone portends badly not only for Brazil but perhaps Emerging Markets in general as China's $SSEC retests its lows @ 2100.

Nasdaq & NYSE McClellan both below Zero....

Close 08/14/2012

The Summation Index remains below Zero & that together with the Oscillator falling into negative territory leaves equities vulnerable to selling pressure in the immediate term.

Let's see how it plays out...........

BOVESPA finally 'tests' the 59K zone........

Brazil's BOVESPA: Close @ 08/08/2012

"BRAZIL’s BOVESPA ($BVSP) WEEKLY INDEX:  “... The Bad News: Rally back to 57/60K “FOR SALE”.” 06/01   “Whilst below 58000 the trend still remains lower.” 07/06   “Finally a sign of a low for the BOVESPA? The wide range weekly trade now highly suggestive of a.. serious test back to the rising Resistance Line @ 59K & rising. That is our bias.” 07/27   No Change; Higher S/T."

(Excerpt from THE WEEKLY issue August 3rd 2012.)

"Tall and tan and young and lovely..."

Brazil's BOVESPA Daily Close @ 08/07/2012

Not so 'tall & tan' as the BOVESPA (& Singapore's STI) do not join in the 'samba' rally, Germany's DAX temptingly close @ 6979.63 vs. the 'Gap' to fill @ 6981.21 & the NDX100 having done its 'fill' Monday.

"when she walks its like a samba.....ahhhh"

All eyes on what happens next.

The Girl From Ipanema................

NDX100 GAP @ 2697 'closed'...DAX still there @ 6981.21

NDX100 Daily Close @ 08/06/2012

DAX Daily Close @ 08/06/2012

Whilst the NDX100 has finally retraced & closed the 2697 GAP; the German DAX is now 'ever so close' to doing just that......after that becomes the interesting development.
Signs of a reversal (high) in both indices ( basis Daily & Weekly Charts) would go a long way in suggesting this particular Rally has ended.

If there's one thing that should worry us......

Industrial Metals Index ($GYX) Close @ 08/03/2012

Equities may rally, treasuries may sell off & relief rallies in the Euro inspire all sorts of other currency buying.....but 1 thing that fails 'to lift' amid the drama in Europe is that which China imports to re-export: Industrial Metals. We've been warned.

DAX does what it does best....'frustrates'.

DAX Daily Close @ 08/01/2012

Indecisive Daily Candle after breaching/ invalidating the Bearish Engulfing from July 20th is what the DAX does best....throw us off 'the scent'.
An outside down day in the new 'RISK Anything' AUD/USD portends that perhaps the Draghi "whatever it takes" statement needs "within the mandate of the ECB" qualification that was NOT widely reported...repeated out LOUD!?