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Sunday, October 08, 2017 10:01:26 AM
Market Weekend Update - SHORT TERM
By: Tony Caldaro | October 7, 2017
We have been tracking the nano and pico waves quantitatively that create each of the Micro waves as they unfold. We have not added this labeling to the hourly chart, to avoid clutter. But we do discuss the wave pattern of each unfolding Micro wave in the daily/weekly write up.
Micro wave 3 from the SPX 2417 low has continued to unfold in a relatively simple pattern. Nano 1. 2455, Nano 2. 2428, Nano 3. 2480-2447-2509-2488-2553 so far. We still need to see an end to Nano 3. Then after a Nano 4 pullback, another push to new highs to complete Nan0 5 and Micro 3. But this still doesn’t end the Minor 5 uptrend. We continue to take it just one wave at a time. Short term support is at the 2525 and 2479 pivots, with resistance at the 2575 and 2594 pivots. Short term momentum spent 5-days extremely overbought, then broke below neutral on Friday. Best to your trading!
FOREIGN MARKETS
The Asian markets were all higher this week, especially H.K. +3.3%, for a net gain of 1.4%.
The European markets were mixed and ended the week mixed.
The DJ World index gained 0.9%, and the NYSE also gained 0.9%.
COMMODITIES
Bonds are in a downtrend and lost 0.2%.
Crude is still in an uptrend but lost 4.5% on the week.
Gold is in a downtrend and lost 0.8%.
The USD is in an uptrend and gained 1.0%.
NEXT WEEK
Monday: bank holiday markets open. Wednesday: the FOMC minutes. Thursday: jobless claims and the PPI. Friday: the CPI, consumer sentiment, retail sales and business inventories. Best to your extended weekend, if you have one.
CHARTS: https://stockcharts.com/public/1269446/tenpp
https://caldaro.wordpress.com/2017/10/07/weekend-update-625/
• 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 | October 7, 2017
We have been tracking the nano and pico waves quantitatively that create each of the Micro waves as they unfold. We have not added this labeling to the hourly chart, to avoid clutter. But we do discuss the wave pattern of each unfolding Micro wave in the daily/weekly write up.
Micro wave 3 from the SPX 2417 low has continued to unfold in a relatively simple pattern. Nano 1. 2455, Nano 2. 2428, Nano 3. 2480-2447-2509-2488-2553 so far. We still need to see an end to Nano 3. Then after a Nano 4 pullback, another push to new highs to complete Nan0 5 and Micro 3. But this still doesn’t end the Minor 5 uptrend. We continue to take it just one wave at a time. Short term support is at the 2525 and 2479 pivots, with resistance at the 2575 and 2594 pivots. Short term momentum spent 5-days extremely overbought, then broke below neutral on Friday. Best to your trading!
FOREIGN MARKETS
The Asian markets were all higher this week, especially H.K. +3.3%, for a net gain of 1.4%.
The European markets were mixed and ended the week mixed.
The DJ World index gained 0.9%, and the NYSE also gained 0.9%.
COMMODITIES
Bonds are in a downtrend and lost 0.2%.
Crude is still in an uptrend but lost 4.5% on the week.
Gold is in a downtrend and lost 0.8%.
The USD is in an uptrend and gained 1.0%.
NEXT WEEK
Monday: bank holiday markets open. Wednesday: the FOMC minutes. Thursday: jobless claims and the PPI. Friday: the CPI, consumer sentiment, retail sales and business inventories. Best to your extended weekend, if you have one.
CHARTS: https://stockcharts.com/public/1269446/tenpp
https://caldaro.wordpress.com/2017/10/07/weekend-update-625/
• 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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