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Technical Tuesday - October 29, 2018
publication date: Oct 29, 2018
Technical Tuesday Update
Volume 2, Issue 37
October 29, 2018
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- Downside momentum for the U.S. market continues to accelerate with projected declines of -20% from their recent highs. The S&P Growth to Value ratio remains very weak after hitting a MFU-4 target and we see more weakness ahead.
- No change in the European, Asian and Emerging Markets outlook as our downside Money Flow Unit targets are getting hit...and more to go.
- Crude looks good for a long trade for a tactical trader. Gold remains in a favorable position.
- The U.S. Dollar is gaining upside momentum and we see the opposite for the Euro. The Dollar Yen is in a good spot to add as it has tested and held support.