Technical Tuesday - January 9, 2018

publication date: Jan 9, 2018

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 2, Issue 2
January 9, 2018

Download PDF Version here

Items of Interest:

US Markets

  • Strong momentum has pushed the SPX, MDY and the XLK slightly above their Money Flow Unit target zones.
  • The Dow Transports have achieved their intermediate-term target area and is short-term extended.
  • The Dow Utilities have declined 10% from the MFU-4 target and now at important support.
  • Nasdaq Composite at its MFU-4 target and the upper end of its long-term channel.
  • SMH has rallied into its MFU-4 target with weak momentum...still cautious here.

European Markets

  • Both the CAC and DAX has rallied off support. Still on target for higher prices from here..

Asian Markets

  • Nikkei is very close to the 24500 target. A pause/pullback from that area would be welcome and give an opportunity to buy.
  • The Hang Seng is short-term extended and at its 31300 target. Look for a pause.
  • The Aussi All Ordinaries has also achieved its near-term target. Look for a pause that refreshes.

Emerging Markets

Commodity Markets

  • Crude has achieved its initial target of $63 today. Buy any weakness as the $67 target off the July low is still in play.  There is potential for price to surpass $67, but we will have a clearer view in coming weeks as price comes into that area.

Currency Markets

  • Currencies and other commodities will be reviewed later this week

Please note that some of these charts will have colored boxes that highlight target zones labeled MFU 2,3 or 4. These zones are generated from a proprietary supply /demand model which I have used for over 25 years. These zones will highlight areas where the probability of a pause or significant change in trend can occur and these targets are generated off short and very long-term timeframes. This is not for day trading. Note also that the MFU3 and MFU 4 targets offer the highest probability for a turn in trend.

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European Markets (Back to Top)

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Asian Markets (Back to Top)

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Emerging Markets (Back to Top)

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Commodity Markets (Back to Top)

 

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Currency Markets (Back to Top)