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Próxima semana carregadinha de inf. económica
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Support for the SPX remains at 848 and then 789, with resistance at 912 and then 935. Short term momentum was oversold on fridays lows and moved up to neutral heading into the close. There was a very short term negative divergence right at the close which may lead to a pullback on monday. Thus far, the SPX has rallied from a low of 741 to 896 to complete a small wave A. Then corrected from 896 to 818 to complete a small wave B. A rally followed from 818 to 919 on monday, and then the market stalled for the rest of the week. This second rally could have completed the small wave c, or is only part of that wave c. Since the second rally was 101 point (818-919) it maintains about a 0.618 fibonacci relationship to the first rally of 155 points (741-896). Once the SPX breaks through the overhead pivots the next fibonacci relationship are at SPX 973 (c = a), and 1068 (c = 1.618 a). These are also in line with the pivots at 961 and then 1061. Currently the US equity markets is getting support from some other markets. Hong Kong, Japan, China and Brazil remain in confirmed uptrends. Also, the USD is now downtrending, while the Euro and Gold are uptrending. Best to your trading!
FOREIGN MARKETS
The Asian markets are mixed as Australia and India have not confirmed uptrends yet. On average they gained 1.8% this week.
The European markets are in unconfirmed uptrends while gaining 6.1% this week.
The Commodity equity markets are still split, with Brazil in an uptrend and Canada lagging. On average they gained 8.2% this week.
COMMODITIES
The US Bond market continues to rally, but is getting close to a fibonacci resistance just above 128.
Crude soared this week 20.4% on hopes of a significant production cut by OPEC this week.
Gold is in a confirmed uptrend for the first time since July, up 9.1% on the week.
The currencies reversed trends as expected, Euro up, USD down.
NEXT WEEK
Monday starts the week with the Empire state index, Industrial production and the Home builders index. The CPI and Housing starts are reported tuesday. Then the Current accounts deficit on wednesday, followed by the weekly Jobless claims on thursday, with the Philly FED and Leading indicators. Friday is options expiration. The FED meets on tuesday to determine their next move, maybe another alphabet swap program. They have eleven already in place. Best to your week!
CHARTS: http://stockcharts.com/def/servlet/Favo ... =ID1606987
Próxima semana carregadinha de inf. económica
------------------------------------------------
Support for the SPX remains at 848 and then 789, with resistance at 912 and then 935. Short term momentum was oversold on fridays lows and moved up to neutral heading into the close. There was a very short term negative divergence right at the close which may lead to a pullback on monday. Thus far, the SPX has rallied from a low of 741 to 896 to complete a small wave A. Then corrected from 896 to 818 to complete a small wave B. A rally followed from 818 to 919 on monday, and then the market stalled for the rest of the week. This second rally could have completed the small wave c, or is only part of that wave c. Since the second rally was 101 point (818-919) it maintains about a 0.618 fibonacci relationship to the first rally of 155 points (741-896). Once the SPX breaks through the overhead pivots the next fibonacci relationship are at SPX 973 (c = a), and 1068 (c = 1.618 a). These are also in line with the pivots at 961 and then 1061. Currently the US equity markets is getting support from some other markets. Hong Kong, Japan, China and Brazil remain in confirmed uptrends. Also, the USD is now downtrending, while the Euro and Gold are uptrending. Best to your trading!
FOREIGN MARKETS
The Asian markets are mixed as Australia and India have not confirmed uptrends yet. On average they gained 1.8% this week.
The European markets are in unconfirmed uptrends while gaining 6.1% this week.
The Commodity equity markets are still split, with Brazil in an uptrend and Canada lagging. On average they gained 8.2% this week.
COMMODITIES
The US Bond market continues to rally, but is getting close to a fibonacci resistance just above 128.
Crude soared this week 20.4% on hopes of a significant production cut by OPEC this week.
Gold is in a confirmed uptrend for the first time since July, up 9.1% on the week.
The currencies reversed trends as expected, Euro up, USD down.
NEXT WEEK
Monday starts the week with the Empire state index, Industrial production and the Home builders index. The CPI and Housing starts are reported tuesday. Then the Current accounts deficit on wednesday, followed by the weekly Jobless claims on thursday, with the Philly FED and Leading indicators. Friday is options expiration. The FED meets on tuesday to determine their next move, maybe another alphabet swap program. They have eleven already in place. Best to your week!
CHARTS: http://stockcharts.com/def/servlet/Favo ... =ID1606987
- Mensagens: 46
- Registado: 17/1/2008 0:55
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