Market Update – May 2012 Daryl Montgomery May 22, 2012 Copyright 2012, All Rights Reserved The contents of this presentation are not intended as a recommendation to buy or sell any security.

Background Material for Charts Moving Averages – 50-day, 200-day, 325-day or 10-week, 40-week, 65 week RSI – relative strength index, 80-overbought, 20 oversold, 50 divides bearish and bullish MACD – moving average convergence divergence, zero divide bullish bearish, peak and bottom numbers variable DMI – Directional Movement Index, +DI (blue), -DI (red) and trend line (black).

Market Summary Large number of stock markets globally have technically broken down (U.S. exception). VIX hits 25 target. Gold and silver just tested support. U.S. interest rates around all-time lows. Dollar heading toward big rally. 325-day, 200-day moving average relationship odd. Stock/commodity markets should be weak into the summer.

Major Markets

VIX 3-Years Weekly 10, 40, 65-Week Moving Average and RSI, DMI, MACD

VIX 3-Month Daily 50, 200, 325-Day Moving Average and RSI, DMI, MACD

Dow Jones 3-Years Weekly 10, 40, 65-Week Moving Average and RSI, DMI, MACD

Dow Jones Transportation 3-Years Weekly 10, 40, 65-Week Moving Average and RSI, DMI, MACD

S&P Years Weekly 10, 40, 65-Week Moving Average and RSI, DMI, MACD

Nasdaq 3-Years Weekly 10, 40,65-Week Moving Averages, RSI, DMI, MACD

Russell Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

UK FTSE 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

German DAX 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

France: CAC-40 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Japan: Nikkei 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Emerging Market Indices

Hong Kong Hang Seng 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Brazil Bovespa 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

India Sensex 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Shanghai Composite 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Russia RTS 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Commodities

GOLD ETF: GLD 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

GOLD ETF: GLD 7-Years Monthly 40 Month Moving Average, RSI, DMI, MACD

Mining ETF GDX 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Mining ETF GDXJ 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Silver ETF SLV 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

WTI Crude Oil 2-Years Weekly

CA:U (Uranium) 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

KWT Solar ETF 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Copper ETF JJC 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Agriculture ETF RJA 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

Currencies

U.S. $ DXY 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Euro FXE 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Swiss Franc FXF 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Australian $ FXA 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Canadian $ FXC 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

Bonds

30-Year Treasury Yield 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD

10-Year Treasury Yield 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD