djn21's  Instablog

Send Message
First off, I view the entire monetary and financial system as something of a Ponzi scheme. Starting with currency that is debt, and running straight though a global economic model that is based on a premise of infinite growth in a finite world. This won't end well. I'd go a step further and... More
My company:
New Power Media
My blog:
Playing the Ponzi
  • Commodities break out? 0 comments
    Jul 13, 2011 11:12 AM | about stocks: DBA, DBC, JJC

    Recently, it looked like a wide variety of commodities were on the cusp of significant technical breakdowns.  Fast forward a couple weeks and the script has flipped.  DBA (Agriculture) appears to be breaking to the upside of bearish triangle patterns:













    Commodities (using DBC as a proxy) had all the makings of a very bearish Head-and-Shoulders, complete with a break under the neckline... only to rally ferociously starting last week.  It has now broken above trendline resistance. 

    And "Dr. Copper" (using JJC as a proxy here) is also pushing higher after breaking above resistance:

    The US Dollar broke violently above its flag pattern a few days ago, only to retreat hard from the 23% Fibonacci retracement line.  It has continued falling hard today and QE3 rumors have pushed equities higher and the Dollar lower.have pushed equities higher and the Dollar lower.
    Stocks: DBA, DBC, JJC
Back To djn21's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers


  • Added DBA yesterday as it appears to have bullish broken above its recent downtrend resistance.
    Jul 14, 2011
  • Euro and USD each testing key technical trendlines today. See if the US Dollar rally will have longer term legs...
    Jul 14, 2011
  • Sad but true, Archman
    Jul 13, 2011
More »

Latest Comments

Most Commented
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.