You are on page 1of 8

http://trendroom.wordpress.

com

TRENDROOM

Q2- 2009

Macro & Tech Themes

Page 1
http://trendroom.wordpress.com
1. Risk Premium – A2P2 Spread calculated by FED continue to move
down which is relatively good sign that the risk in system declines but
it is still elevated compared to levels before the crisis.

2. AAA Asset back index showing no signs of improving which is a bit


confusing.

Page 2
http://trendroom.wordpress.com
3. Technical picture of S&P 500 is very interesting. Medium Term BUY
signal is generated by EMA20&50 cross. Seasonals are bullish until
mid may.

4. VIX – Volatility slowly moving south supporting stock market.

Page 3
http://trendroom.wordpress.com

5. BRICs are outperforming major indexes in developed world since


dec2008 but still lagging of larger time frame

6. Relative performance S&P500 vs. BRICs vs. CEE

Page 4
http://trendroom.wordpress.com
7. Commodities – SELL OFF mode is over but we doubt that new BULL
market has started.

8. Gold – Everybody loves GOLD ….Are there any BUYERS left 

Page 5
http://trendroom.wordpress.com

9. Crude oil - Correction and sideways into the summer.

Page 6
http://trendroom.wordpress.com
10. US dollar Index – Trendline still holds but for how long.

11. EURUSD – Messy technical picture on daily.

Page 7
http://trendroom.wordpress.com

12. Japanese Yen – 15+% correction from the high. We are leaning to
strong yen on LT horizon but not yet.

Page 8