Momentum indicators are diverging, and at 5 ½ month highs futures are testing a large open window at 13538.0. While bullish signals for Q3 are being confirmed, signals for this week and for Tuesday have pointed to staying square on the open and to selling the rally. This is so far being confirmed, as a bullish gap open on Tuesday and initial gains of over 200 Pts...
A rally of over 1,000 Pts since March’s 4 year base at 2165.5 has left weekly and daily sentiment much overstretched but June’s pullback has attracted buyers back to the market and last week’s signals continued to point higher. These were confirmed with gains of 60 Pts and although sentiment is overstretched at close to record highs the outlook for this week...
This week’s signals are bullish and these are so far being confirmed with Monday’s almost 60 Pt gain. However, selling from ahead of June’s top has switched signals in each of the last 2 days to temporarily bearish. These too have been confirmed with Wednesday posting initial losses of 20 Pts. Those losses have been recovered and although there is no clear bullish...
A rising trend of higher quarterly lows have kept longer-term signals bullish for some time and despite sentiment which is much overstretched near an 8 year top signals in each of the last 3 weeks have continued to point higher. These have been confirmed with last week posting a 4th higher weekly low in a row though for only modest gains. The potential for profit...
Monday’s loss of topside momentum, and the end to a sequence of higher daily lows kept Wednesday’s signals pointing lower. These were confirmed with sentiment posting a 3rd lower daily high in a row, though for only modest losses. A recovery to close unchanged hasn’t offered a bullish reversal pattern, but it does leave Thursday’s bearish signals much more...
A near 14 Big Fig rally since March’s 25 year low at 1.1409 has stalled in June from close to the key daily average rates and signals in each of the last 2 weeks have pointed to staying short and selling the rally, last week at 1.2488. This was the correct strategy as initial gains of 2 Big Figs attracted sellers from in between the 100 & 200 day lines and for...
Despite Tuesday closing little changed yesterday's signals pointed just cautiously lower. This outlook was proven correct as sentiment gave up this week's initial gains via a lower daily high & low with losses of just over 1 Big Fig. As such, signals for Thursday remain bearish and the call is to sell at the open and then at Wednesday's low at .6437 with a stop...
Last week’s signals pointed to staying short and selling the rally and this week’s signals have continued to point cautiously lower. However, initial losses on Monday have attracted buyers back to the market from ahead of last week’s base and the 200 day average rate, sentiment recovering to post a gain of 1 Big Fig and end a sequence of lower daily highs. The...
Last week’s signals switched to bearish and pointed to selling the rally at 1.2644. This was close to the high and confirmed with losses of 3 ½ Big Figs since Tuesday’s 1.2689 high. A sequence of higher weekly lows have been ended and prices are trading below their key daily average rates which is negative for sentiment. With no sign that the deterioration is...
A bullish reversal at the daily level on Monday, supported by the 13 daily average rate left signals for Tuesday as bullish. This stance was proven correct, with prices posting a 2nd higher daily high & low in a row. However, sellers have returned to the market, prices declining almost 1 Big Fig, and closing little changed. Trend signals for Wednesday are thus...
Bullish signals for Q2 and in each of the previous 3 weeks had been confirmed, but a near 1,750 Pt improvement since March’s 9 year low had left daily signals for sentiment overstretched and testing the 62% recovery to the entire 2020 sell-off, keeping last week’s signals just very cautiously bullish. An initial over 50 Pt improvement has in fact attracted profit...
A rising trend of higher weekly lows and gains above the key daily average rates have kept this week’s signals pointing higher and to buying dips. Wednesday’s signals were also bullish and these were confirmed with sentiment posting a 9th higher daily high in a row and an initial gain of ¾ Big Fig. However, sellers have returned to the market from close to March’s...
With prices reaching 4-month highs after gains of almost 3 ½ Big Figs through a sequence of 5 consecutive higher daily highs & lows last week, signals are bullish for this week. The bullish outlook is being proven correct as Monday posted the 6th higher daily high & low in a row, with further gains of over ½ Big Fig, exceeding last week's top at .6528 and reaching...
Last week’s signals continued to point lower and these were confirmed as all our downside targets were met with sentiment posting a 4th lower weekly high & low in a row and with losses of almost 4 Big Figs taking prices below their 200 day average rate. With no sign that the deterioration is ending, but with daily sentiment oversold and testing March’s 1.3303...
Last week’s signals continued to point lower and these were confirmed as all our downside targets were met with sentiment posting a 4th lower weekly high & low in a row and with losses of almost 4 Big Figs taking prices below their 200 day average rate. With no sign that the deterioration is ending, but with daily sentiment oversold and testing March’s 1.3303...
