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Technical Tuesday - February 27, 2018
Technical Tuesday Update
Volume 2, Issue 7
February 27, 2018
Download PDF Version here
Items of Interest:
Some market indices have retraced quite a bit of the recent 10% decline which is to be expected after a fast move down, with the Nasdaq Composite being the strongest. We do have a negative momentum divergence for the Nasdaq on the daily timeframe as well as a turning point “ellipse” indicator highlighting an area of a potential turn.
The Dow Utilities have bounced from the initial target we highlighted a number of weeks back. We expect the current rally to fail.
In Asia, the Nikkei has pulled back to an area of support. We may find a period of choppy trading near-term, but we continue to find a number of long ideas with favorable absolute and relative trends. Let us know if you are interested in the most recent chart packet with long ideas.
We remain cautious with the Kospi as price is below its monthly uptrend and momentum is turning down.
We are looking to get long Crude Oil once again. After pulling back from it’s initial target of $67, we are looking for an entry level and for a potential move to the mid $70s’. This will be a process and we will keep you abreast of how this unfolds.
- The U.S. 10-yr. yield is on target for 3.03%
US Markets (Back to Top)
Asian Markets (Back to Top)
Emerging Markets (Back to Top)
Commodity Markets (Back to Top)
Currency Markets (Back to Top)