Markets signals - UPDATE 26-02-09

A couple of months into the new year and I have an interest in taking another big look around. The markets have been choppy, but thats an understantement. Severla hundred point intraday moves almost go by unnoticed. I have read that in these times of crisis and uncertainty the technicals are more important than the fundamentals. I would agree with the proviso that with strong technicals, and zero fundamentals, I would call manipulation. Indicators of change are constantly being revisited and views revised. Baltic Dry Index? Its been on a tear of late but most recently has fallen off some. VIX? TED spreads? Dennis Gartman of the Gartman Letter was on BNN earlier and referenced one that I had not heard or thought of before. I believe it is related to the carry trade with the Japaense Yen. In this case it is referred to as the YEN-EUR cross. It has been moving in such a way that in Gartman's opinion, if the current upside breakout continues with significant volume, he will become more bullish on equities. I provide a snapshot of this below, and have added this to my growing list of things to watch.