1. 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.

2. 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).

3. 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.

4. Major Markets

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

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

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

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

9. S&P 500 3-Years Weekly 10, 40, 65-Week Moving Average and RSI, DMI, MACD

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

11. Russell 2000 3-Years Weekly 10, 40, 65-Week Moving Averages and RSI, DMI, MACD

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

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

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

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

16. Emerging Market Indices

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

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

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

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

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

22. Commodities

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

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

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

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

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

28. WTI Crude Oil 2-Years Weekly

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

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

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

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

33. Currencies

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

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

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

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

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

39. Bonds

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

41. 10-Year Treasury Yield 3-Years Weekly 10, 40, 65-Week Moving Averages, RSI, DMI, MACD