Technical Tuesday - January 30, 2018

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 2, Issue 4
January 30, 2018

Download PDF Version here


Items of Interest:

US Markets

European Markets

  • The DAX and Spain's’ IBEX is pulling back to support in an orderly fashion. Uptrends intact.

    Asian Markets

    • Nikkei 225 is within the zone of its MFU-4 target which was generated off the base of 2009—2010. This is a zone to expect a pullback.
    • After achieving the MFU-4 target in November of 2017, the Kospi continues to consolidate in a trading range.

      Emerging Markets

      • In Emerging Markets, the EEM and INP continue to maintain their upward bias. 

      Commodity Markets

      • Crude Oil got within spitting distance of our $67 target which was generated of the July 2016 low. The recent high was $66.66, close enough for us to move to a neutral position.  Please note that this target hit a MFU-3 zone and there is a higher target which we have not published yet but will look to do so once we see the reaction off the recent high.

        Currency Markets

        • As long as the U.S. Dollar index, (DXY) remains below 90, another significant leg down cannot be ruled out.

         

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