Technical Tuesday - December 19, 2017

publication date: Dec 19, 2017

Cerundolo Investment Research    

Technical Tuesday Update  

Volume 1, Issue 5
December 19, 2017

Download PDF Version here

Items of Interest:

In this weeks Technical Tuesday report, we will be focusing mainly on a number of global equity markets as we are seeing a number of important shifts taking place and we will be sending out a separate report on commodities and currencies.


US Markets

  • The S&P 500, MDY, Russell 2000, SMH and Dow Utilities have achieved important target zones where the odds have increased for a pause/pullback to occur.
  • Be alert with the SMH as it has hit its long-term target off the 2009 low
  • The S&P 500 Growth vs. Value relative chart is showing further signs of weakness and favoring value.
  • The XLF is in a zone for a pause/pullback. Continue to buy weakness as the long-term structure remains very positive.

    European Markets

    • The DAX looks poised to move higher after consolidating above support.

    Asian Markets

    • Nikkei remains on target for 24500.
    • Hang Seng continues to grind higher off the recent support area.
    • The Kospi 100 achieved its long-term target and looks poised for a pullback.
    • Aussi All Ordinaries getting close to its near-term target area where a pause can take hold

      Emerging Markets

      • EEM continues to pause/correct from its target zone.

      Commodity Markets

      • Copper starting to clear an important level which will lead to another leg higher. XME improving in structure.

      Currency Markets 

      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 (Back to Top)

      European Markets (Back to Top)

      Asian Markets (Back to Top)

      Emerging Markets (Back to Top)

      Commodity Markets (Back to Top)

      Currency Markets (Back to Top)

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