AI
| Followers | 689 |
| Posts | 143817 |
| Boards Moderated | 35 |
| Alias Born | 03/10/2004 |
Saturday, January 21, 2017 9:37:32 AM
Tony Caldaro: Market Weekend Update
* January 21, 2017
SHORT TERM
The preferred count, Minute wave i ending at SPX 2278, provides us with some definitive parameters going forward. Regardless of where the B wave ends the most common low for Minute wave ii would be to retest SPX 2234, to form an irregular flat. The next probable support levels, if the B wave ended at SPX 2282, would be the following.
If the C wave is 1.618 times the A wave, then the 2212 pivot would provide support. If the C is twice the A wave, then SPX 2194 would provide support. If the C is 2.618 times the A wave, then the 2177 pivot would provide support. Short term support is currently at the 2270 pivot and SPX 2254, with resistance at the 2286 and 2321 pivots. Short term momentum ended the week around neutral. Best to your trading next week!
FOREIGN MARKETS
Asian markets were mostly lower on the week for a net loss of 0.5%.
European markets were also mostly lower for a 1.2% loss.
The DJ World index lost 0.3%, and the NYSE index lost 0.3%.
COMMODITIES
Bonds appear to be in an uptrend but lost 0.2%.
Crude is in an uptrend and gained 1.6%.
Gold is in an uptrend too and gained 0.7%.
The USD appears to be in a downtrend and lost 0.4%.
https://caldaro.wordpress.com/2017/01/21/weekend-update-588/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
* January 21, 2017
SHORT TERM
The preferred count, Minute wave i ending at SPX 2278, provides us with some definitive parameters going forward. Regardless of where the B wave ends the most common low for Minute wave ii would be to retest SPX 2234, to form an irregular flat. The next probable support levels, if the B wave ended at SPX 2282, would be the following.
If the C wave is 1.618 times the A wave, then the 2212 pivot would provide support. If the C is twice the A wave, then SPX 2194 would provide support. If the C is 2.618 times the A wave, then the 2177 pivot would provide support. Short term support is currently at the 2270 pivot and SPX 2254, with resistance at the 2286 and 2321 pivots. Short term momentum ended the week around neutral. Best to your trading next week!
FOREIGN MARKETS
Asian markets were mostly lower on the week for a net loss of 0.5%.
European markets were also mostly lower for a 1.2% loss.
The DJ World index lost 0.3%, and the NYSE index lost 0.3%.
COMMODITIES
Bonds appear to be in an uptrend but lost 0.2%.
Crude is in an uptrend and gained 1.6%.
Gold is in an uptrend too and gained 0.7%.
The USD appears to be in a downtrend and lost 0.4%.
https://caldaro.wordpress.com/2017/01/21/weekend-update-588/
• 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.
