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Saturday, September 23, 2017 10:39:00 AM
Market Weekend Update - SHORT TERM
By: Tony Caldaro | September 23, 2017
The hourly chart provides a closer look at this Minor 5 uptrend. In fact, one could see the similarities between Micro waves 1, 2, and 3 of Minute i, and Micro waves 1, 2, and 3 of the current Minute iii. And yes, we are expecting a relatively small Micro 4 when the current Micro 3 ends.
The short term wave structure from the Micro 2 SPX 2417 low remains unchanged: (1) 2455, (2) 2428, (3) 2480-2447-2509. Micro 3 clearly has some more work to do to the upside, with a couple of pullbacks along the way. Then after a Micro 4 pullback, Micro 5 should only end Minute iii of Minor 5. Then after Minute iv pullback, Minute v should take the SPX into, after recent calculations, the 2650 area. Best to your trading!
FOREIGN MARKETS
Asian markets were mixed on the week and gained 0.1%.
European markets were mostly higher and gained 0.7%.
The DJ World index gained 0.2%, while the NYSE gained 0.6%.
COMMODITIES
Bonds nearly confirmed a downtrend while losing 0.6% on the week.
Crude remains in an uptrend and gained 1.5%.
Gold looks to be in a downtrend and lost 2.1%.
The USD remains in a downtrend but gained 0.4%.
NEXT WEEK
Tuesday: Case-Shiller, consumer confidence, and new home sales. Wednesday: durable goods and pending home sales. Thursday: Q2 GDP (Est. 3.2%) and jobless claims. Friday: personal income/spending, the Chicago PMI and consumer sentiment.
CHARTS: https://stockcharts.com/public/1269446/tenpp
https://caldaro.wordpress.com/2017/09/23/weekend-update-623/
• 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 | September 23, 2017
The hourly chart provides a closer look at this Minor 5 uptrend. In fact, one could see the similarities between Micro waves 1, 2, and 3 of Minute i, and Micro waves 1, 2, and 3 of the current Minute iii. And yes, we are expecting a relatively small Micro 4 when the current Micro 3 ends.
The short term wave structure from the Micro 2 SPX 2417 low remains unchanged: (1) 2455, (2) 2428, (3) 2480-2447-2509. Micro 3 clearly has some more work to do to the upside, with a couple of pullbacks along the way. Then after a Micro 4 pullback, Micro 5 should only end Minute iii of Minor 5. Then after Minute iv pullback, Minute v should take the SPX into, after recent calculations, the 2650 area. Best to your trading!
FOREIGN MARKETS
Asian markets were mixed on the week and gained 0.1%.
European markets were mostly higher and gained 0.7%.
The DJ World index gained 0.2%, while the NYSE gained 0.6%.
COMMODITIES
Bonds nearly confirmed a downtrend while losing 0.6% on the week.
Crude remains in an uptrend and gained 1.5%.
Gold looks to be in a downtrend and lost 2.1%.
The USD remains in a downtrend but gained 0.4%.
NEXT WEEK
Tuesday: Case-Shiller, consumer confidence, and new home sales. Wednesday: durable goods and pending home sales. Thursday: Q2 GDP (Est. 3.2%) and jobless claims. Friday: personal income/spending, the Chicago PMI and consumer sentiment.
CHARTS: https://stockcharts.com/public/1269446/tenpp
https://caldaro.wordpress.com/2017/09/23/weekend-update-623/
• 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
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