1.Euro dollar pushes lower, German CPI lower, weaker Eurozone numbers. Will continue this week. Dollar pushes higher
2.Japanese goes to neutral bias but this is not correct — inflation is an issue. Corporate balance sheets in Japan are good. Japan can weather a downturn.
3.Bernake rate cut says things are still bad. Says market is ahead of itself. The problems are far from over. He is concerned about inflation but remains concerned about growth.

4.Strong date out of USA but some figures are suspicous.Unemployment is going to 7%. Be careful of data.

5.Australia is the relative strength winner driven by commodities.

6. Big data coming from all countries except the USA.

7. UK data per poor. It is not over ny a long shot. Major shock is coming soon.

8.DJIA 13200 is the 61.8% retracement. If we hold Friday highs and SP 1400 then market going higher. Bond prices are dropping.

9. Yen carry trade bullish to the 105 level. Euro overbought — heading to 150. Things are not as good as media says. During the summer and end of year , profits will be hit hard. Sovereign wealth funds will hit the USA.

10. Gold under 850 — heading to 800 ; above 860 — heading to 900. Oil fear factor is back — if it hits 120 going to 130 — double top possible. USA bond yields header higher.

11. Next week — employment Australia, NZ and Canada, Swiss CPI, Aussie , Euro UK rate decision, Canadian PMI. If data shows weakness then come $strength but variable.
$did not close well. Cable no major direction.
Cable may breakdown next week.Little hammers Euro/sterling and Euro/dollar.

12. Have a good week — go to Part 2 — trading tips and analysis.