Daryl Guppy is an independent technical analyst who appears frequently on CNBC Asia. He runs training, analysis and resource workshops for retail and professional financial market traders involved in stocks, CFDs, warrants, derivatives, futures and commodities in China, Malaysia, Singapore and Australia. He has his own trading company, guppytraders.com. He is a special consultant to AxiCorp.
Investors have been piling into Treasurys in recent weeks, boosting the dollar. In a sale on July 9, the U.S. Treasury sold three-month bonds at minus 0.005 percent, and six-month bonds at minus 0.006 percent. The Treasury says it's the first time they have registered negative yields. This takes place in the context of a temporary pause in the Euro-zone problems.
Both the Dow and S&P are expected to rise over the next three months, but while the upside in the Dow is limited the S&P could soar.
A combination of chart features paint a bearish picture for Euro Stoxx 50.
As much as many traders think gold should go up the weekly chart of Comex gold suggests there are some serious barriers to a price rise back to $1,750 an ounce or $1,850.
The Dow retreat is part of a new downtrend with initial downside targets near 11,300.
The acceleration and spread of the Greek contagion has the potential to drag the Euro below $1.19. It is no longer an unthinkable outcome.
An earlier call on the dollar has not been realized so it is time to take a fresh look at the charts on the greenback, Daryl Guppy says.
The charts show that euro-yen enters a variation of a double-bottom pattern used to set a new long-term upside target.
Why does the Shanghai market rise and fall so rapidly?