Technical Tuesday - November 14, 2017

publication date: Nov 14, 2017

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 1, Issue 1
November 14, 2017

Download PDF Version here


Key Takeaways:

  • The S&P is close to the target area of 2600ish...be on alert of a waning of momentum to mark the start of a pause/pullback
  • Russell 2000 achieved its long-term target off the 2009 low. Near-term cautious. No change here.
  • Dow Utilities less than 3 points away from its long-term target of 775. Big area for a potential pause/pullback.
  • The Nikkei remains on target for 24500. Last weeks momentum peak may put a pause on that call for now.
  • The Hang Seng may have completed its “pause phase”. Upside continues to look favorable.
  • Kospi 100 came close enough to its target of 2640 to be cautious from here. Take profits!
  • Intermediate-term target of $67 on Crude remains in play.
  • Both the U.S. dollar and the Euro have reversed short-term from their “make or break” zones.
  • Cocoa and sugar emerging from a base pattern...Bullish!
  • Gold basing...starting to shine.

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.

Topics and Tickers Discussed: 

Aussi, CAC40, Canadian, Cocoa, Crude, DMT, Dollar, DUX, DXY, EEM, Euro, Gold, Hang Seng, India, INP, Kospi, MDY, Nikkei, Oil, Palladium, Pound, RUT, SPX, Sugar, Transports, Utilities, WTI, XAO, Yen,