Long term crude and the dollar....

Crude oil may be in for a resbit, however the long term trend is still higher. If you are not a believer in Fib lines perhaps this chart will sway your opinion........
Yes that is correct.....In 1997 one could have reasonably predicted Crude would reach $145. Now let's take a look how this impacted the EUR/DOL....
Very interesting indeed......

Long the dollar short crude fr the time being?

AMGN blast rolling over

The 5 year weekly chart shows the fall and retracement. This marks some fairly close entry and stop marks for a PUT trade.
The daily chart magnifies things a bit in relation to the fib levels.

QQQQ's update and KO on Coke

The inverse Head & Shoulders pattern is intact and setting up for shorts soon:

But for those who are impatient Coca-Cola puts may be in order tomorrow. Be prudent and place a tight stop:

Decision making time for the market.....

Big decision day for the markets as economic data abounds prior to open Thursday:

-ECB announcnement
-Chain store sales
-Unemployment Claims

and at 10:00 am:
-Pending Home Sales
-Natural Gas report
-Consumer Credit

Crude is setting up for interim bounce off of Fib level and will resume downtrend after test of $121.50....Lookout $110 and top of 200 day EMA coming soon:
The VIX will tell the tale if the bottom is in or not:
The major indices are all brushing under their 50 day EMA's with the exception of the stronger IWM which has broken barely above:

Great clip on Cramer's bottom call