Technical Tuesday - November 28, 2017

publication date: Nov 28, 2017

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 1, Issue 2
November 28, 2017

Download PDF Version here


Key Takeaways:

  • US Markets
    • The S&P is in its target area of 2620—2680. Be on alert of a waning of momentum to mark the start of a pause/pullback.
    • Russell 2000 had its pause from the MFU-4 target zone and is now back above.
    • Dow Utilities has achieved its long-term target of 775. Big area for a potential pause/pullback.
  • Asian Markets
    • The Nikkei remains on target for 24500. The recent momentum peak may put a pause on that call for now.
    • The Hang Seng had an orderly pullback into support. Upside continues to look favorable.
    • Kospi 100 achieved its target of 2640. Be cautious from here. Take profits!
  • European Markets
  • Emerging Markets
  • Commodity Markets
    • Intermediate-term target of $67 on Crude remains in play.
    • Gold basing...starting to shine.
  • Currency Markets
    • The CAD has consolidated for 4 weeks with a bullish upward bias. Look for an upside move from here.

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.

US Markets

Asian Markets

European Markets

Emerging Markets

Commodity Markets

Currency Markets

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,