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MSCI WORLD STOCK INDEX – Prices appear to have narrowly edged above resistance at $1181.42, the 123.6% Fibonacci extension of the 8/5-8/25 downswing. Negative RSI divergence hints at fading momentum behind the advance, but a move toward the 138.2% Fib at $1195.28 now looks likely in the near term. $1181.42 has been recast as support.

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My daytrading charts: Sep 28, 2010

FUNDYS (Early Edition)

Another day, another round of broad based USD depreciation, with the Greenback getting hit hard again and extending declines against most major currencies, with much of the price action attributed to elevated expectations for a second round of quantitative easing from the Fed, after a softer US consumer confidence print on Tuesday. Fed Lockhart has however recently been on the wires saying that QE2 is by no means a done deal, and it will be interesting to see...