WEEKLY SUSI / EXHAUSTION UPDATE

SECTORS
^RUT: SMALL CAP BUY (18/05/2009): late follow on BUY signal with less upside..
XLU: UTILITIES BUY (27/04/2009): might have more room upside...
XLY: CONSUMER BUY (15/05/2009): Consumer are close to exhaustion, limited upside.
XLV: HEALTHCARE BUY (22/05/2009): the defensive HEALTHCARE looks vulnerable...
XLP: CONSUMER STAPLES BUY (27/04/2009): Staples had an extreme run and look heavy..
IYT: TRANSPORTS SELL (07/05/2009):Transports are exhausted.

The sectors feels heavy here and are either close to or are already exhausted. Mr. Market seems on the verge of some kind of consolidation.


GEOGRAPHIES
^SSEC: SELL (20/05/2009): China exhausted!
IEV: SELL (12/05/2009): Europe is on the verge of Exhaustion...
EWZ: SELL (28/05/2009): Brasil is tired and exhausted!

Will the hot money continue going to the emerging markets and old europe. SUSI is seriously questioning that ?


COMMODITIES
CRB: COMMIDITIES BUY (23/04/2009): stromg run since signal, but looks tired around here...
^XOI: SELL (12/05/2009): OIL Sector seems to ignore the run in OIL & triggers a SELL which is double bearish !!
USO: BUY (23/04/2009): so far good strength in OIL, but needs more momemtum to keep going..
DBA: SELL (14/05/2009): Agro is close to exhaustion!

Commodities had a great run so far which usually results in a growing amount of exhaustions. Agro and the Oil stock might take the lead here. Oil upside is limited!


Precious Matals
SLV: SILVER SELL (15/05/2009)
^XAU: GOLDMINERS SELL (14/05/2009)

...clearly exhausted which should limit the move from here


FIXED INCOME
TLT: 20YR TRASURY BUY (27/05/2009): downside exhaustion, limited downside, ie expect less yield pressure short term
^TNX: 10YR TREASURY YIELD BUY (15/05/2009): near exhaustion !
LQD: INVESTMENT GRADE CORPORATE BUY (28/05/2009): bullish for Asset Markets. LQD near Resistance.

The curve steepening should halt fairly soon. For how long ? ...ask again in a couple of weeks.


FX
DXY: DOLLAR INDEX BUY (12/05/2009)
USDJPY: BUY (23/05/2009)
EURJPY: BUY (19/05/2009)
mixed picture which means YEN weakness or USD strength.
One is bullish for Asset markets the other ain't...


Now that the month end is behind us the market should come close to another crossroad where he could opt to correct 20% or just stagnate for a month or two.

Also understand that Exhaustion readings normally behave like viral infects in a sense that they allow themselves incubation periods of +/-2 weeks before attacking the host.


Further pls. bear in mind that we are in the height of the silly season, meaning anything is possible here...