| Followers | 680 |
| Posts | 141250 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Saturday, July 08, 2017 11:02:32 AM
Market Weekend Update - SHORT TERM
By Tony Caldaro | July 8, 2017
While the uptrend was a clean five waves on the two short-term timeframes we track. The correction thus far has been a series of overlapping waves. Typical of a correction. Thus far [2454]: 2431-2450-2419-2443-2406, then 2439-2408-2427. Quite choppy and difficult to count.
While the SPX/NDX/NAZ have already confirmed downtrends, the DOW has not. We are expecting the A wave of the Int. iv correction to end when the DOW does confirm a downtrend. Short term support is at the 2411 and 2385 pivots, with resistance at the 2428 and 2444 pivots. Short term momentum ended the week nearly overbought.
FOREIGN MARKETS
Asian markets were mixed on the week to finish about unchanged.
European markets were mostly higher and gained 0.6%.
The DJ World index lost 0.3%, and the NYSE lost 0.1%.
COMMODITIES
Bonds continue to downtrend and lost 0.5%.
Crude remains in a downtrend and lost 3.9%.
Gold is also in a downtrend and lost 2.6%.
The USD continues to downtrend but gained 0.2% on the week. One of our early indicators is suggesting the bull market in the USD has ended. We now await a long-term trend confirmation in price from one of the major currencies.
NEXT WEEK
Monday: consumer credit at 3pm. Tuesday: wholesale inventories. Wednesday: FED chair Yellen’s Congressional testimony and the beige book. Thursday: jobless claims, the PPI and budget deficit. Friday: the CPI, retail sales, industrial production, consumer sentiment and business inventories.
https://caldaro.wordpress.com/2017/07/08/weekend-update-612/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
*** For Market Direction and Trends visit our board:
https://investorshub.advfn.com/Market-Direction-and-Trends-26249/
By Tony Caldaro | July 8, 2017
While the uptrend was a clean five waves on the two short-term timeframes we track. The correction thus far has been a series of overlapping waves. Typical of a correction. Thus far [2454]: 2431-2450-2419-2443-2406, then 2439-2408-2427. Quite choppy and difficult to count.
While the SPX/NDX/NAZ have already confirmed downtrends, the DOW has not. We are expecting the A wave of the Int. iv correction to end when the DOW does confirm a downtrend. Short term support is at the 2411 and 2385 pivots, with resistance at the 2428 and 2444 pivots. Short term momentum ended the week nearly overbought.
FOREIGN MARKETS
Asian markets were mixed on the week to finish about unchanged.
European markets were mostly higher and gained 0.6%.
The DJ World index lost 0.3%, and the NYSE lost 0.1%.
COMMODITIES
Bonds continue to downtrend and lost 0.5%.
Crude remains in a downtrend and lost 3.9%.
Gold is also in a downtrend and lost 2.6%.
The USD continues to downtrend but gained 0.2% on the week. One of our early indicators is suggesting the bull market in the USD has ended. We now await a long-term trend confirmation in price from one of the major currencies.
NEXT WEEK
Monday: consumer credit at 3pm. Tuesday: wholesale inventories. Wednesday: FED chair Yellen’s Congressional testimony and the beige book. Thursday: jobless claims, the PPI and budget deficit. Friday: the CPI, retail sales, industrial production, consumer sentiment and business inventories.
https://caldaro.wordpress.com/2017/07/08/weekend-update-612/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
*** For Market Direction and Trends visit our board:
https://investorshub.advfn.com/Market-Direction-and-Trends-26249/
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.
