| Followers | 679 |
| Posts | 140848 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Sunday, January 15, 2017 10:40:58 AM
Tony Caldaro: Weekend Update
* January 14, 2017
SHORT TERM
In the first week of January this uptrend reached the typical, for this bull market, two month duration. Since that SPX 2282 high the market has displayed a series of choppy waves, with a gradual drift to the downside until the low on Thursday at SPX 2254. After Thursday’s low the market rallied to SPX 2279 – within a few points of the all-time high again. It had hit that level on Tuesday as well.
With the negative divergence in the daily MACD we suspect, under the usual scenario, that the market is forming an uptrend top before a downtrend kicks in. The typical decline for downtrends in this bull market is about 5%. This would place support around the SPX 2177 pivot. Under either scenario it would appear the choppiness will continue until the SPX retraces back to SPX 2234, or declines further. Short term support is at the 2270 pivot and SPX 2254, with resistance at the 2286 and 2231 pivots. Short term momentum ended the week just below overbought.
FOREIGN MARKETS
Asian markets were mixed on the week but gained 0.4%.
European markets were mostly higher and gained 0.3%.
The DJ World index gained 0.7% on the week.
COMMODITIES
Bonds look like they may have started an uptrend and gained 0.3% on the week.
Crude continues to uptrend but lost 3.0%.
Gold is in an uptrend and gained 1.9%.
The USD may have started a downtrend and lost 1.0% on the week.
https://caldaro.wordpress.com/2017/01/14/weekend-update-587/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
* January 14, 2017
SHORT TERM
In the first week of January this uptrend reached the typical, for this bull market, two month duration. Since that SPX 2282 high the market has displayed a series of choppy waves, with a gradual drift to the downside until the low on Thursday at SPX 2254. After Thursday’s low the market rallied to SPX 2279 – within a few points of the all-time high again. It had hit that level on Tuesday as well.
With the negative divergence in the daily MACD we suspect, under the usual scenario, that the market is forming an uptrend top before a downtrend kicks in. The typical decline for downtrends in this bull market is about 5%. This would place support around the SPX 2177 pivot. Under either scenario it would appear the choppiness will continue until the SPX retraces back to SPX 2234, or declines further. Short term support is at the 2270 pivot and SPX 2254, with resistance at the 2286 and 2231 pivots. Short term momentum ended the week just below overbought.
FOREIGN MARKETS
Asian markets were mixed on the week but gained 0.4%.
European markets were mostly higher and gained 0.3%.
The DJ World index gained 0.7% on the week.
COMMODITIES
Bonds look like they may have started an uptrend and gained 0.3% on the week.
Crude continues to uptrend but lost 3.0%.
Gold is in an uptrend and gained 1.9%.
The USD may have started a downtrend and lost 1.0% on the week.
https://caldaro.wordpress.com/2017/01/14/weekend-update-587/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
