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Technical Tuesday - March 20, 2018
Technical Tuesday Update
Volume 2, Issue 9
March 20, 2018
Download PDF Version here
Items of Interest:
- The S&P 500, Nasdaq Comp., MDY and Russell 2000 are either at Money Flow Unit targets or in retracement zones off the recent lows. These indices remain vulnerable to further testing of the February low.
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We remain very cautious of European markets as the CAC, DAX and Spain’s IBEX look vulnerable to further weakness.
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The Nikkei is at a make or break point as it tests important support. We remain cautious the Kospi as it remains below its monthly uptrend.
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We would hold off on adding to Brazil as the Ibovespa continues to pullback from its long-term target.
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We have our entry for a long trade in crude oil that we have been waiting for. Gold needs to hold $1300 support from here.
- The U.S. dollar remains in a weak position and we like GBP and EURO on the long side.
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