Monday, December 31, 2012

Happy New Year!

I hope you had a great Christmas and I wish you all the best for 2013!

Regular updates will continue tomorrow.

Thursday, December 20, 2012

SPX ~ EOD ~ 20 December 2012

We got a pullback after we hit the upper trendline:

Let's see if we can even hit the lower trendline again.

Tuesday, December 18, 2012

SPX ~ Intraday ~ 18 December 2012

And we're back at the upper trendline:

Let's see if we continue to trade within the two trendlines and decline back to the lower one by the end of this week.

SPX ~ Pre-Market ~ 18 December 2012

The rally occured a bit earlier and was stronger than I expected:

It looks like the SPX wants to rally back to the upper trendline. For that to happen we need to break 1430ish first though.

Monday, December 17, 2012

Gold ~ 17 December 2012

Gold broke 1740 last month but quickly dropped back below it cancelling my buy signal.

It looks like it is forming a triangle now and depending on which way the triangle breaks the next targets should be either 1630ish or 1800:

SPX ~ Pre-Market ~ 17 December 2012

The SPX is now at the lower trendline of the channel:

1408 is still my preferred target for this move. After that we should see a bounce, possibly up to 1425ish later this week.

Thursday, December 13, 2012

SPX ~ Intraday ~ 13 December 2012

The SPX closed below 1435 yesterday. Thus I'm still neutral medium-term.

As mentioned in one of my previous updates, should we get a reversal around 1435, which we certainly got yesterday, my preferred target for a correction is 1408ish.

There is also an open gap at 1419 so we could see a short-term bounce there. But below 1419, 1408 should be next.

Wednesday, December 12, 2012

SPX ~ Intraday ~ 12 December 2012

We got a huge spike after the FED announcement and breached 1435:

Let's see if we get a daily close above 1435 or if it's just a fake.

Tuesday, December 11, 2012

SPX ~ Intraday ~ 11 December 2012

The SPX hit 1430ish. Let's see what happens now.

If the resistance holds, I think we should see a correction, probably to 1408ish again. If we get a convincing break though, a rally back to the highs seems likely.

Monday, December 10, 2012

SPX ~ EOD ~ 10 December 2012

Thursday, December 6, 2012

USD/JPY ~ 6 December 2012

The USD/JPY has been consolidating above the support around 82ish and might be ready now to rally to 84ish:

Once 82.8ish is broken the next target should be 84ish. The medium-term trend remains up as long as we stay above 81.2ish.

Wednesday, December 5, 2012

SPX ~ EOD ~ 5 December 2012

1407 was breached early in the day but the subsequent decline wasn't as big as I was hoping. In fact, we got a huge reversal at 1400ish and 1407 was quickly regained:

Medium-term I'm still neutral as long as either 1430 or 1390 is convincingly broken.

SPX ~ Pre-Market ~ 5 December 2012

The SPX is pressuring the support level at 1407ish:

As mentioned in my last update a break of this level should lead to a decline towards 1390ish. If we get a reversal around this level though, a rally to 1430ish should follow.

Tuesday, December 4, 2012

EUR/USD ~ 4 December 2012

The EUR/USD is already near the next resistance around 1.315:

Most likely we'll get another short-term correction once we hit this level. Once 1.315 is breached, the next target should be 1.35.

I've been medium-term bullish again since the break of 1.285 and will remain so as long as this level holds.

Monday, December 3, 2012

SPX ~ EOD ~ 3 December 2012

After almost hitting the resistance at 1425-30 and then declined back to the support at 1407-09ish:

If 1407ish holds, we should see another rally towards 1430ish. If it doesn't hold though, 1390ish should be next.