SPX continues to lurk in what looks like a bear flag in preparation for more testing of the thick support zone. Europe is dealing with resistance in the form of a neckline. The target for STOXX 50 would be around 3500 if it can get through here. More testing of the 50 and 200 day moving averages could come into play first. Japan continues to … Continue reading NFTRH; Multi-Market Update w/ Daily Charts
In the somewhat robotic format of the weekly report, we noted that the Euro 50 index is still bearish. But I want to dial in to some daily chart views of Europe to show a picture that is on the verge of flipping bullish in some areas while, very logically, the weaker countries lag. The Euro 50 has broken the 2016 trend and is dealing … Continue reading NFTRH Update; Daily Charts of Euro Markets
In Q4 2014 Europe was hated as an investment destination, what with pervasive deflationary pressures and little more than Draghi’s jawbone supporting the idea of a coming QE and a ‘me too!’ trade setup that would ape what went on in the US (to one degree or another), post-2012. We watched the Euro for a bottom at a logical big picture point, as it declined … Continue reading Euro ‘Me Too!’ QE Trade, Part 2 Taking Shape
