lunes, 29 de octubre de 2012

US: Signs a top is forming?

By Colin Twiggs
October 29th, 2012 3:00 a.m. ET (6:00 p.m. AET)

These extracts from my trading diary are for educational purposes. Any advice contained therein is provided for the general information of readers and does not have regard to any particular person's investment objectives, financial situation or needs and must not be construed as advice to buy, sell, hold or otherwise deal with any securities or other investments. Accordingly, no reader should act on the basis of any information contained therein without first having consulted a suitably qualified financial advisor. Full terms and conditions can be found at Terms of Use.


US markets will be closed on Monday as New York braces for Hurricane Sandy.
The S&P 500 continues to test support at 1400. Bearish divergence on 63-day Twiggs Momentum warns that a top may be forming. Breach of support would strengthen the signal. The market is currently enjoying the "honeymoon" period in the lead up to the election. Reality is likely to bite after the results are in, as the government deals with some tough choices — like how to create jobs while reducing the budget deficit.
S&P 500
The Dow Jones Industrial Average is similarly testing support at 13000 on the weekly chart. Breach of support — and the primary trendline — would warn that a top is forming. A 13-week Twiggs Money Flow reversal below zero would indicate rising selling pressure, while a trough above the line would suggest another primary advance. Recovery above 13650 is unlikely at present but would confirm an advance.
Dow Jones Industrial Average
* Target calculation: 13000 + ( 13000 - 12000 ) = 14000

More....

Australia: ASX 200 trend channel

Europe: Dax buying pressure

Canada: TSX Composite

The Keynesian Path to Fiscal Irresponsibility | Dwight R. Lee

Joseph Stiglitz: "Government could have prevented much of what happened"

Australia's cultural revolution

Australia: Household debt crisis

The real solution to poverty: JOBS | CIS

Forex: Aussie Dollar, Euro, Pound Sterling and Canada's Loonie

Gold and commodities fall

We should go further unbundling banks | Andy Haldane | Bank of England



The markets are the same now as they were five or ten years ago because they keep changing — just like they did then.

~ Ed Seykota

No hay comentarios:

Publicar un comentario

Muchas gracias por tu comentario. En cuanto me sea posible te daré mi opinión.