| Followers | 680 |
| Posts | 141062 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Saturday, January 20, 2018 10:04:17 AM
Market Weekend Update - SHORT TERM
By Tony Caldaro | January 20, 2018
As noted above. This rally has been so strong that it has failed to leave behind the normal short term quantifiable wave markers of this bull market. We have some, then more on a shorter timeframe, then a few that look like they should fit. The puzzle; basic: 2590-2578-2658-2606; shorter 2665-2625-2672-2652-2695-2674; fit: 2759-2736-2808-2769-2810.
A number of wave counts can fit the above price pattern. It is not about short term wave counts at this time. Think it more about the wave pattern, 15-waves, and the technical indicators. Both suggest higher prices ahead before a significant correction. Nevertheless we can count five up to 2665, a decline to 2625, then nine up to 2810 so far. And have posted this count. Short term support is at the 2798 and 2780 pivots, with resistance at the 2835 pivot. Short term momentum ended the week overbought. Best to your trading!
FOREIGN MARKETS
Asian markets were mostly higher and gained 0.9%.
European markets were mostly higher and gained 0.3%.
The DJ World index gained 0.9%, and the NYSE gained 0.7%.
COMMODITIES
Bonds continue to downtrend and lost 0.6%.
Crude remains in an uptrend but lost 1.5%.
Gold is also in an uptrend but lost 0.1%.
The USD remains in downtrend and lost 0.5%.
NEXT WEEK
Wednesday: existing home sales. Thursday: jobless claims, new home sales and leading indicators. Friday: Q4 GDP (est. 3.0%) and durable goods.
CHARTS: https://stockcharts.com/public/1269446/tenpp
Related
https://caldaro.wordpress.com/2018/01/20/weekend-update-637/
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By Tony Caldaro | January 20, 2018
As noted above. This rally has been so strong that it has failed to leave behind the normal short term quantifiable wave markers of this bull market. We have some, then more on a shorter timeframe, then a few that look like they should fit. The puzzle; basic: 2590-2578-2658-2606; shorter 2665-2625-2672-2652-2695-2674; fit: 2759-2736-2808-2769-2810.
A number of wave counts can fit the above price pattern. It is not about short term wave counts at this time. Think it more about the wave pattern, 15-waves, and the technical indicators. Both suggest higher prices ahead before a significant correction. Nevertheless we can count five up to 2665, a decline to 2625, then nine up to 2810 so far. And have posted this count. Short term support is at the 2798 and 2780 pivots, with resistance at the 2835 pivot. Short term momentum ended the week overbought. Best to your trading!
FOREIGN MARKETS
Asian markets were mostly higher and gained 0.9%.
European markets were mostly higher and gained 0.3%.
The DJ World index gained 0.9%, and the NYSE gained 0.7%.
COMMODITIES
Bonds continue to downtrend and lost 0.6%.
Crude remains in an uptrend but lost 1.5%.
Gold is also in an uptrend but lost 0.1%.
The USD remains in downtrend and lost 0.5%.
NEXT WEEK
Wednesday: existing home sales. Thursday: jobless claims, new home sales and leading indicators. Friday: Q4 GDP (est. 3.0%) and durable goods.
CHARTS: https://stockcharts.com/public/1269446/tenpp
Related
https://caldaro.wordpress.com/2018/01/20/weekend-update-637/
• 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.
