Technical Tuesday - March 6, 2018

publication date: Mar 6, 2018

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 2, Issue 8
March 6, 2018

Download PDF Version here


Items of Interest:

 

US Markets

  • The S&P 500, Nasdaq Comp., MDY and Russell 2000 are all in an area of resistance or retracement. We should know fairly soon if these indices can break through or not.
  • The Dow Transports are holding up well into support while the Utilities are pausing at its initial downside target.

European Markets

  • The CAC, DAX and Spain’s IBEX remain in a very weak position and we continue to be cautious. Italy’s FTSE MIB is also weak as it trades below the 2015 highs.  Monthly momentum about to turn down.

Asian Markets

  • Nikkei is holding support. We continue to find good ideas in this market.  We remain cautious the Kospi as the monthly uptrend has been broken and momentum continues to weaken.

Emerging Markets

Commodity Markets

  • Gold remains favorable and we are monitoring crude oil for a long entry.

Currency Market

  • The U.S. dollar remains in a weak position and we see potential to the 85 area

 

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European Markets

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