New ATH
Lets see can we establish support above the black ATH line over the coming week.
Here is hoping there is not a lot of double tops or throw over double tops as we have shared previously. See links below
PUKA
ECONOMICS:RUGRES
The latest data from the International Monetary Fund’s (IMF) International Financial Statistics (IFS) report shows that Russia’s central bank increased its gold reserves in August, restoring reserves back to previous levels from earlier this year.
“IMF IFS data shows gold reserves at the Central Bank of Russia rose by 3 tonnes in August,”...
AMEX:URA showing promise here at 30 and we could be looking at a turn around in price soon. Growth stocks may need to find their footing and dollar may need to soften a bit but for now, this seems like a decent spot for longs. Best of luck traders..
The green line at 27.5 was where our previous trade occured for a nice little run and is linked to this post.
U.S. Existing Home Sales & New Home Sales
U.S. Existing Home Sales
U.S. Existing Home Sales data helps us to gauge the strength of the U.S. housing market and is a key indicator of overall economic health in the U.S.
In simple terms U.S. Existing Home Sales is a seasonally adjusted record of previously owned homes that have been sold in the United States...
Technical Analysis and Outlook:
Spooz's extended movement toward our designated target, Mean Res 4783 and Key Res 4800, is noteworthy. However, the completed Outer Index rally poses a significant barrier to advancement towards higher targets: Inner Index Rally 4882 and the next Outer Index Rally 5035. The current level of tight trading range supports this theory....
Technical Analysis and Outlook:
The Eurodollar has been trading aimlessly this week, fluctuating below the designated Mean Resistance of 1.098. The current target is the Mean Support of 1.090, with a potential decline towards the established Mean Support level of 1.075. On the upside, the Eurodollar may attempt to surpass the Mean Resistance level of 1.098 and...
Technical Analysis and Outlook:
Bitcoin has surged past January 2, 2024, completing the Inner Coin Rally 45900 and, as a result, also topping our designated Next #1 Outer Coin Rally 47500. In addition, Bitcoin has retraced back to our target Mean Sup 42800 after completing a pivotal squeeze, as shown in last week's chart analysis. Currently, it is regaining its...
Core and Headline PPI (Dec 2023 figures)
U.S. Headline PPI
Prev: 0.8% / Exp: 1.3%
Rep: 1.0% ✅ Lower than expected ✅
U.S. Core PPI (excludes food and energy)
Prev: 2.0% / Exp: 1.9%
Rep: 1.8% ✅ Lower Than Expected✅
What is PPI and why is it important?
Producer Price Index is a crucial economic indicator that provides valuable information about...
The potential for a stronger dollar looms ahead, driven by the robustness of the US economy, which enables Federal Reserve officials to pursue a more gradual reduction in interest rates compared to other major central banks.
Despite the Federal Reserve's assertive approach to raising interest rates, the US economy has demonstrated resilience, with inflation...
Core and Headline CPI (Dec 2023 figures)
U.S. Headline CPI
Prev: 3.1%
Exp: 3.2%
Rep: 3.4% 🚨 HIGHER THAN EXPECTED 🚨
U.S. Core CPI
Prev: 4.0%
Exp: 3.8%
Rep: 3.9% 🚨 HIGHER THAN EXPECTED - but still fell
from 4% to 3.9%✅
CORE CPI FALLS BELOW 4% FOR THE FIRST TIME SINCE MAY 2021
We have a long way to go before...
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A new 1-year candle will now be created.
Accordingly, we will take the time to talk about next year's movements with the 12M chart.
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We continually say that you...
U.S Equity Index’s Overview – A Repeating Pattern
The Bull Thesis – Ascending Triangles
The 200 day (blue line on each chart) is squeezing price up towards each red resistance line making each chart look like an ascending triangle (evident on every chart). With the 200 day as underside support for price and the 200 day sloping upwards, things remain...
Technical Analysis and Outlook:
The Spooz extended down movement from our designated target Key Res 4800 and Outer Index Rally 4807 and now rests comfortably at our Mean Support level of 4700. The current market conditions suggest we experience a squeeze that could take us down to the Mean Support level at 4644 and possibly even the Inner Index Dip at 4595....
Technical Analysis and Outlook:
The Eurodollar has experienced significant price fluctuations throughout this week's trading session. It has fallen below our Mean Support level of 1.100, indicating a potential decline towards the established Mean Support of 1.075. It is highly probable that the Eurodollar will retest the Mean Resistance level of 1.098. The...
Technical Analysis and Outlook:
Bitcoin had a successful week of trading. It completed our Inner Coin Rally 45900, a positive indicator for the crypto market. Bitcoin is currently fluctuating between a Key Resistance of 45000, a level the currency is trying to surpass, and a Mean Support range of 42800, indicating a potential upward trend in price.
Last week the dollar was mostly weak with DXY currently sitting at the 101 area and is about to test the key 100 level most likely after last week's much worse-than-expected Chicago PMI which came at 46.9 versus the expected 51 which was already far lower than the previous 55.8 and now sliding in the below 50 contraction zone.
Another negative for the dollar...
Macro Monday 27
Headwinds for Europe but Spain demonstrating relative strength
As it is New Years Eve I wanted to do an early release for tomorrow.
This week we are taking a look at another major market Index in Europe and we will also look at one smaller market within this geographical location, Spain, due to its strong chart set up and promising economic...
Technical Analysis and Outlook:
The Spooz has slowly but surely approached our designated target Key Res 4800 and Outer Index Rally 4807 throughout this short week's trading session. Some market squeeze from the current position might take us to Mean Sup 4700. This level of support is considered a strong support level for the index and can allow traders and...
