Dollar Dumping !!!!!

Brazil and China eye plan to axe dollar

Brazil and China will work towards using their own currencies in trade transactions rather than the US dollar, according to Brazil’s central bank and aides to Luiz Inácio Lula da Silva, Brazil’s president.The move follows recent Chinese challenges to the status of the dollar as the world’s leading international currency.

Mr Lula da Silva, who is visiting Beijing this week, and Hu Jintao, China’s president, first discussed the idea of replacing the dollar with the renminbi and the real as trade currencies when they met at the G20 summit in London last month. Full Story

Vixing: Now What?

I still do not trust vix at these levels and it has to close below the support around 30.Volume on most of the indicies are relative low and does not support the price range.Watch out below for these support levels

Support 1:
S&P 880
Dow 8250
Nasdaq 1700

Support 2:
S&P 830
Dow 7900
Nasdaq 1560

WOW:S&P Earning decline by 90%

This one is a hack of a chart to watch the meltdown happened during last quater of 08.So why are we rallying here ? Why did sentiments leen towards the growth ? why did confident index rose ? I personally feel we are coming to a dead end to this rally with no fundamentals in sight, And you decide for yourself about markets going forward.



Source: chartoftheday