*** Comments prior to evaluation summary ***
While the week closed positive compared to the prior week. It failed to establish a new high. Also this week established the new low in the consolidation range before returning to the positive side of the range. This type of price action pattern generates a potential low for the coming week of 9754.34. The price action, coupled with a cross-over in the Stochastic 14 is showing a minor negative down trend.
RSI has weaked by 1.8% on the 14 day and 2.6% on the 5 day. ** If you use RSI to help measure 'Strength' as it was designed for.
Generated a new skipping trigger that has a low target of 9861 before attempting 10246.
Friday (daily) generated a measurable event (from the minor rally) indicating a desire to reach for 10122 while at the same time an enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 9938 - 9895 which matches the week charts skipping target low of 9754. So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bearish. The price in relationship to the other averages suggest short positions
Price Action:
Weekly: The average price range currently is 574.7 points/ticks/pips. Prices are currently 1.9x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a healthy trading range.
Prices are currently caught in consolidation between 9489.6 and 10155.2.
While in consolidation the trade range may decrease to 354.73199999999997 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 9236.6 to 107806 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 9721.25 to 10363.76 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 9861 before moving toward 10246
If strength and attitude continue, it could take between 2 - 4 trade periods (weeks) for the first projection and 2 - 4 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 70.00% are bullish, 30.00% are bearish, 0.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Very strongly bullish - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bearish - Close/Cover directional trades, profit taking/trend switch in process.
While the week closed positive compared to the prior week. It failed to establish a new high. Also this week established the new low in the consolidation range before returning to the positive side of the range. This type of price action pattern generates a potential low for the coming week of 9754.34. The price action, coupled with a cross-over in the Stochastic 14 is showing a minor negative down trend.
RSI has weaked by 1.8% on the 14 day and 2.6% on the 5 day. ** If you use RSI to help measure 'Strength' as it was designed for.
Generated a new skipping trigger that has a low target of 9861 before attempting 10246.
Friday (daily) generated a measurable event (from the minor rally) indicating a desire to reach for 10122 while at the same time an enveloping bar formed in the market on Friday (daily chart). This can have an impact coming into the new week. The envelope indicated a desire to move toward 9938 - 9895 which matches the week charts skipping target low of 9754. So I would accept this is a double confirmation of potential low for next week. As always this is dependent on if the strength and attitude continue.
Trend Analysis:
The current trend is defined by the last price and it's relationship to specific moving averages.
Check the MA strategy for more specific suggestions.
Weekly: The relationship to the primary trend MA is bearish. The price in relationship to the other averages suggest short positions
Price Action:
Weekly: The average price range currently is 574.7 points/ticks/pips. Prices are currently 1.9x the normal trading range. Prices are trading within the mean range for activity. This generally indicates a healthy trading range.
Prices are currently caught in consolidation between 9489.6 and 10155.2.
While in consolidation the trade range may decrease to 354.73199999999997 points/ticks/pips.
Standard Deviation
Weekly: Standard deviation suggests a range from 9236.6 to 107806 for the following week.
Calculated Price Strength:
The strength of the trend in conjunction with specific averages
Weekly: Trend strength suggests a trade range of 9721.25 to 10363.76 for the following week.
Price Projection:
The price action has generated a projection signal for the underlying.
Weekly: Price currently displays (if strength and attitude continue) a desire to move first toward 9861 before moving toward 10246
If strength and attitude continue, it could take between 2 - 4 trade periods (weeks) for the first projection and 2 - 4 to reach the second projection.
Indicators Summary.
A collection of technical indicators whose directional attitude has been summarized.
Weekly: Out of the cumulative indicators monitored, 70.00% are bullish, 30.00% are bearish, 0.00% are neutral
The CCI indicator trading strategy suggest the following:
Weekly: Very strongly bullish - shorts closed.
Confirmation Signal
6 indicators combined to confirm entry/exit.
Weekly Bearish - Close/Cover directional trades, profit taking/trend switch in process.