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Technical Tuesday - December 11, 2018
publication date: Dec 11, 2018
Technical Tuesday Update
Volume 2, Issue 41
December 11, 2018
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- The S&P 500, Nasdaq Composite, Russell 2000 and MDY are all at or our Money Flow Unit targets or MOB and Ellipse support levels. On a short-term basis, we would be long all these indices with a stop at the recent lows. In the coming days we will evaluate and calculate the upside potential for these indices and will send out a note when done.
- The DAX was just –1.75% shy of our MFU-4 target and we are now neutral. The CAC has achieved its MFU-3 target and we are covering our short and going long. Spain’s IBEX has a double bottom at the recent MFU-2 target and we would cover shorts for a short-term trade.