Michael_Macdonald-XATSUK

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About me Independent Cross Asset Technical Strategist with close to 25 years market experience. Provide analysis and consultation on Equities, FX, Commodities and ETFs.
Joined UK XATSUK
XATSUK provide Cross Asset Technical Strategy research via free weekly & monthly reports at www.xatsuk.com. I have 25 years' experience using classical techniques as well as my proprietary Tension Indicator.
Markets Allocation
24 % stocks 13 % forex 8 % commodities 55 % other
Top Mentioned Symbols
UKX 14% | 14 SPX 12% | 12 DXY 9% | 9 VIX 7% | 7
Michael_Macdonald-XATSUK Michael_Macdonald-XATSUK UUP, D, Short ,
UUP: USD UUP ETF Bear Signal intact
4 0 3
UUP, D Short
USD UUP ETF Bear Signal intact

Bear Signal at 25.61 intact. Breaking lower. Stop lowered to 25.50. Poised for further losses as studies and sentiment continue to weaken. Any break above 25.44 to remain limited.

EURUSD: Draghi helping to catalyse EUR/USD bulls
18 0 1
EURUSD, M
Draghi helping to catalyse EUR/USD bulls

The previous push above the 1.0825, (38.2%) Fibonacci retracement of the May-December fall and the 1.0870~ high of December 2016 has not been sustained, with EUR/USD falling back into range. Downside risks, however, are expected to remain limited, as momentum studies continue to strengthen and positive divergence unwinds. In the coming months, fresh gains are ...

UKX: UK FTSE100 coming under pressure
61 0 2
UKX, W
UK FTSE100 coming under pressure

The anticipated pullback is unfolding, with the UK FTSE100 Index falling sharply to the 7093.57 low of February. A short-term bounce is possible, as oversold daily studies unwind. Weakening momentum studies and the bearish Tension Indicator (not shown) should limit scope. In the coming weeks, further downside tests are looked for, as investors adopt a cautious ...

XLF: US Financials Sector Under Pressure
7 0 1
XLF, M
US Financials Sector Under Pressure

We have updated our monthly publication - US Sectors Relative to S&P500. It is an overview of the major US sectors, and covers, amongst others, Consumer Discretionary, Consumer Staples, Energy, Healthcare, Technology and Financials. Within several ratings changes, we have Downgraded Financials to Underweight. On an absolute basis, the US Financials ETF XLF is ...

VIX: Global Equity Risks Increasing In The Coming Months
17 0 1
VIX, M
Global Equity Risks Increasing In The Coming Months

A more cautious tone is appearing across global equity markets. Further gains to prove increasingly difficult to maintain. China poised to break higher? Global equity markets remain in their dominant bull trends. Investor portfolios are overweight and investor sentiment is positive. However, warning signals are now appearing, suggesting further gains are likely ...

GBPUSD: GBP/USD poised to break higher.
16 0 1
GBPUSD, W
GBP/USD poised to break higher.

GBP/USD is trading higher once again, in line with improving weekly and monthly studies. A close above the 1.2615 high of March will target critical resistance at the 1.2775 high of December. A later close above here will confirm a significant rally, as the October 2016 bull trend gains traction and investors adopt an outright bullish stance. Congestion around ...

UKX: Anticipated UK FTSE100 pullback underway
30 0 1
UKX, W
Anticipated UK FTSE100 pullback underway

Under pressure. Focus on critical support at the 7093.57 low of February. A break beneath here would turn investor sentiment outright bearish, and confirm a more significant bear trend as the fall from the 7447 high of March gains traction.

AUDUSD: Risk of a further pullback in AUD/USD
13 0 1
AUDUSD, W
Risk of a further pullback in AUD/USD

AUD/USD is finding support above the 0.7455 (50%) Fibonacci retracement and 0.7450 congestion area. Rising short-term studies suggest potential for a push above congestion around 0.7600. However, mixed weekly readings are keeping investors cautious of further strength, with the 0.7680 high of 30 March to prove difficult to reach Consolidation is highlighted, ...

VIX: VIX showing signs of strength into the coming months
24 0 1
VIX, M
VIX showing signs of strength into the coming months

There are further signs of bullish trend development in the VIX. Prices are now trading above congestion around 15.00 as momentum studies post positive divergence and continue to strengthen. The proprietary Tension Indicator (not shown) is also improving. In the coming months, expectations are for higher levels to attract, with focus turning to congestion around ...

XAUUSD: Short-term corrective Gold XAUUSD pullback. Higher later
40 0 1
XAUUSD, W
Short-term corrective Gold XAUUSD pullback. Higher later

Gold prices have extended the rally from the USD1194.55 monthly low of 10 March. However, the push above the USD1263.95 high of February has met with a sharp reaction as overbought short-term studies unwind. Risk remains for a corrective pullback towards the USD1226.96 low of 21 March and the USD1217.50 break level, but improving weekly studies should limit any ...

SPX: US S&P500 SPX coming under further pressure
38 0 3
SPX, W
US S&P500 SPX coming under further pressure

Short-term corrective gains from the 2326.50, (23.6%) Fibonacci retracement are underway. Immediate focus is on the 2390.01 high of 15 March, but difficulty is seen maintaining any tests, as momentum studies and the bearish Tension Indicator (not seen) continue to weaken. Increased selling pressure is expected to keep prices under pressure, with a later break ...

GBPUSD: GBP/USD poised for further gains in the coming weeks
23 0 2
GBPUSD, W
GBP/USD poised for further gains in the coming weeks

GBP/USD continues to extend gains. Focus is now on the 1.2706 0.77% high of February, with rising momentum studies and the improving Tension Indicator (not shown) anticipating a further break towards critical resistance at the 1.2775 high of December. A later close above here will confirm a significant rally, as the October 2016 bull trend gains traction and ...

UKX: UK FTSE remains heavy at current levels
40 0 4
UKX, W
UK FTSE remains heavy at current levels

The UK FTSE100 Index is finding difficulty maintaining higher levels as negative divergence unfolds on weakening momentum studies. The Tension Indicator (not shown) is also showing signs of negative divergence as it, too, turns down. Investors are expected to continue reducing positions. A break below the 7255.78 low of 27 March is highlighted, with the 7192.94 ...

Michael_Macdonald-XATSUK Michael_Macdonald-XATSUK GLD, D, Long ,
GLD: Gold ETF GLD pressuring resistance. Bull signal intact
22 0 3
GLD, D Long
Gold ETF GLD pressuring resistance. Bull signal intact

Gapping higher to test 120.00. Consolidation to develop, with limited downside tests. Fresh gains confirmed above critical resistance at 120.40. Bull Signal intact at 116.73 Stop has been raised to 118.84

Michael_Macdonald-XATSUK Michael_Macdonald-XATSUK UUP, D, Short ,
UUP: USD ETF UUP remains under pressure. Short in place
10 0 2
UUP, D Short
USD ETF UUP remains under pressure. Short in place

Break below 25.65 putting focus on the 25.40, (50%) Fibonacci retracement of the 2016-2017 rally. An unexpected close above 25.65 will help to stabilise prices. Bear signal from 26.15 intact. Stop lowered to 25.71

CL1!: Oil CL remains under pressure
39 0 2
CL1!, W
Oil CL remains under pressure

Short-term consolidation is underway, with Crude Oil prices currently balanced around the USD47.20, (61.8%) Fibonacci retracement. However downside risks remain in force as bearish weekly studies deepen. Further weakness is looked for, with a break below the USD47.01 low of 22 March opening up the USD45.28, (76.4%) retracement. Still lower is the USD44.82 low of ...

SPX: UIS equities S&P500 SPX coming under pressure
26 0 2
SPX, W
UIS equities S&P500 SPX coming under pressure

Bullish sentiment in the US S&P500 Index is fading. Risk/reward is turning lower, as overbought momentum studies unwind and the Tension Indicator (not shown) continues to weaken. The break below the 2351.31 gap low of 17 February has been seen, with focus now on the 2326.10, (23.6%) Fibonacci retracement and the 2319.23 gap low of 10 February. Deeper reactions ...

UKX: UK FTSE100 coming under selling pressure
31 0 1
UKX, W
UK FTSE100 coming under selling pressure

The UK FTSE100 Index remains strong, but gains are expected to continue to prove difficult to maintain. Overbought studies and negative divergence on the bearish Tension Indicator (not shown) are adding pressure to bullish sentiment, with any initial tests of the 7500/11 barrier to prove difficult to sustain. Risk/reward is for a short-term corrective pullback, ...

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