UGA starting to crack..

Looks like UGA is making a shot for the lower channel  which implies a flush to 120ish on SPY.  Not until then do I take off my DGLD (short gold) and flip long. Like wise I'll cover SRTY  down in the area of the lower channel.   The 1st chart is my UGA target the second chart is SPY overlaid and the potential lower channel point it will meet before any more QE action....

Did Benny just fail trying to shake out gold and energy?

If you overlay UGA (gasoline) GLD, SPY, RUT and measure the % change from the area whereh Benny tried to shake out the inflation correlation trade it would appear to have been a failure as it looks like both UGA and GLD are leading his favorites RUT and SPY higher. I'm sure that's not what he meant to do...

JJC vs. SLV since Blythe Master's CNBC interview...

Its too early to tell but is JPM no longer feeling the need to buy Copper to hedge their Silver short and if so does that mean they expect Silver to fall over the near term?

If I were a betting man (which I am) I'm looking for UGA to be taken down..

To what ever extent the fed can manipulate the paper world I suspect they will try not to let fuel prices get too far out of hand and probably feel the need to pull some liquitity and drive UGA down to it's lower channel zone. This would fit with RUT2k technical slap down target around 750ish....

Another look at the reaction to all this printing over the last quarter...

More than anything the price of fuel (measured via UGA) was impacted by all those digital fed notes sloshing around out there.  Notice the % increase in UGA vs  CRBQ or  INDJ over the last quarter...

Benny's 1st quarter printing impact on AAPL and UGA (gasoline fund)

All of this printed fiat leaking into the market is impacting the price of gasoline even more so then AAPL when viewed via UGA  on a dual axis chart....