OakMarketTrends

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About me I have a 7 years experience as a professional market technician. I apply a top/down approach and rely on intermarket relationships to take advantage of the market. I manage virtual and real money portfolios of different time frame and asset classes.
Joined New York City OakMarketTrends
Markets Allocation
41 % forex 6 % commodities 53 % other
Top Mentioned Symbols
SPX 41% | 7 EURUSD 23% | 4 USDCAD 11% | 2 XLF 5% | 1
OakMarketTrends OakMarketTrends PRO USDCAD, D, Long ,
USDCAD: This key breakout could have major bullish implications
32 0 1
USDCAD, D Long
This key breakout could have major bullish implications

Since the beginning of this week, the USD has been growing in the currency market and in the pair USD/CAD. The rise in the USD is caused by greater expectation of Dec rate hike and in anticipation of the release of the non-farm payroll scheduled for 8:30 (GMT -4). Technically, an ascending channel has formed with theoretical target at 1.3856. Looking at technical ...

OakMarketTrends OakMarketTrends PRO EURUSD, W, Short ,
EURUSD: Decline toward parity
36 0 2
EURUSD, W Short
Decline toward parity

Technically, the EURUSD is developing a bearish flag pattern. Furthermore, the 100-week simple moving average (here in green) acts as a resistance. The bear camp continues to have the edge in my opinion.

OakMarketTrends OakMarketTrends PRO EURUSD, W, Short ,
EURUSD: Decline toward parity
23 0 2
EURUSD, W Short
Decline toward parity

Technically, the EURUSD is developing a bearish flag pattern. Furthermore, the 100-week simple moving average (here in green) acts as a resistance. The bear camp continues to have the edge in my opinion.

OakMarketTrends OakMarketTrends PRO SPX500, 60, Long ,
SPX500: Update: EU referendum polls had remain ahead
93 0 2
SPX500, 60 Long
Update: EU referendum polls had remain ahead

Technically, a symmetrical triangle pattern is confirmed. The bull camp continues to have the edge.

OakMarketTrends OakMarketTrends PRO SPX500, 60, Long ,
SPX500: Inverted head & shoulders
95 0 1
SPX500, 60 Long
Inverted head & shoulders

The SPX has completed a pull back on its neckline. The inverted head & shoulders pattern continues to have bullish implications towards 2116 (theoretical target).

OakMarketTrends OakMarketTrends PRO USDJPY, W, Long ,
USDJPY: Rebond at key support
57 0 0
USDJPY, W Long
Rebond at key support

The pair has reacted positively on a key support area around 105.40. The 105.40 level corresponds to the 200 simple moving average, the top of 2013 and approximately 38.2% Fibonacci retracement. Looking at indicators, the weekly RSI has also bounced off a strong level around 28 which has been a support since 2010. As long as 105.40 isn't broken by a significant ...

OakMarketTrends OakMarketTrends PRO EURUSD, D, Short ,
EURUSD: Key resistance at 1.1615
64 0 1
EURUSD, D Short
Key resistance at 1.1615

Technically, the pair has struck against a significant resistance at 1.1615 given by the high of August 2015 (close price) and the channel resistance. In addition, a shooting star has formed which represents a potential trend reversal. Furthermore, the MACD is displaying a bearish divergence. As long as 1.1615 isn't broken by a significant margin, the bear camp ...

OakMarketTrends OakMarketTrends PRO SPX500, 60, Long ,
SPX500: New year-to-date record high likely
99 0 1
SPX500, 60 Long
New year-to-date record high likely

Technically, the falling wedge pattern calls for a rebound towards 2111 (theoretical target). Regarding technical indicators, the MACD is posting a bullish divergence and is positive. The 50-hour simple moving average is turning up and acts as a support. The bull camp continues to have the edge.

OakMarketTrends OakMarketTrends PRO USDCAD, 60, Long ,
USDCAD: USDCAD looks set for a rebound
51 0 0
USDCAD, 60 Long
USDCAD looks set for a rebound

The USDCAD downtrend is running out of steam as technical indicators are showing bullish divergences on a short term basis. A falling wedge pattern has developed which has usually bullish implications with in this case a theoretical target at 1.2790. On a broader time frame, 1.265 is a key support area given its previous top and 38.2% Fib retracement while key ...

OakMarketTrends OakMarketTrends PRO SPX500, 60, Short ,
SPX500: Signs this bull market is running out of steam
226 0 3
SPX500, 60 Short
Signs this bull market is running out of steam

The SPX500 uptrend is running out of steam as technical indicators are showing bearish divergences. In addition, a rising wedge pattern has developed which has usually bearish implications with in this case a theoretical target at 1972. I think that a break below 2036 would call for a bearish acceleration towards 2007 and 1972 in extension.

OakMarketTrends OakMarketTrends PRO EURUSD, D, Short ,
EURUSD: Towards 1.0400
68 0 3
EURUSD, D Short
Towards 1.0400

Technically, the pair has struck against the 200-day simple moving average and the lower end of its bearish flag pattern. This price action is a typical pullback that reinforce the bearish stance. Look for a new down leg towards 1.0400 (theoretical target of the flag).

OakMarketTrends OakMarketTrends PRO CLJ2016, D,
CLJ2016: Range between 28.60- 36.30
28 0 2
CLJ2016, D
Range between 28.60- 36.30

Fron a chartist point of view, April WTI has been trading sideways between 28.60 - 36.30 so far this year. A double bottom has developed which has usually bullish implications.

OakMarketTrends OakMarketTrends PRO SPX500, D, Short ,
SPX500: Key resistance at 2000
84 0 2
SPX500, D Short
Key resistance at 2000

Technically, the S&P500 Index is gaining upward momentum after breaching its February's tops. However, the Index is about to face a resistance at 2000 which corresponds to the 61.8% Fibonacci retracement level, 100d moving average and December market bottom. In addition, a rising wedge pattern has developed which has usually bearish implications.

OakMarketTrends OakMarketTrends PRO XLF/SPY, W, Long ,
XLF/SPY: Long Financials
15 0 1
XLF/SPY, W Long
Long Financials

Weekly charts: the XLF/SPY ratio has bounced off the 61.8% fibonacci retracement level of its major long term move started in 2011. Hammer pattern has formed on heavy volume on an absolute basis. Real opportunity to enter in the financial sector.

OakMarketTrends OakMarketTrends PRO SPX500, 30, Long ,
SPX500: Possible Short squeeze
50 1 1
SPX500, 30 Long
Possible Short squeeze

If SPX breaks 1835, likely to see 1854 (61.8% Fib retracement) and 1874 (previous top) in extension.

OakMarketTrends OakMarketTrends PRO XLI/SPY, D, Long ,
XLI/SPY: XLI: Industrials are outperforming
24 0 2
XLI/SPY, D Long
XLI: Industrials are outperforming

So far XLI is doing well (cf: my previous Idea). The recent decline in the dollar helps the Industrials and their exportations. The ratio XLI/SPY is rising. The strength of Industrials is likely to continue on a short term basis.

OakMarketTrends OakMarketTrends PRO SPX500, W, Long ,
SPX500: SPX, TRAN and XLI Top down approach/ intermarket relationships
94 0 2
SPX500, W Long
SPX, TRAN and XLI Top down approach/ intermarket relationships

Nice recovery at the end of today's session, the medium term support area around 1820 remains intact on SPX. DJ transportation has almost closed positive today despite the overall market drop. I'm looking at XLI as a possible buy on a short term basis.

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