S&P 500 Daily Chart Analysis For Week of February 17, 2023Technical Analysis and Outlook
The index continues to respect our Mean Sup 4060 target as shown on S&P 500 Daily Chart Analysis For the Week of Feb 10. The newly created Mean Res 4145 is our intermediate upside target - However, keep in mind that the temporary bearish market sentiment is intact, and a significant possibility that the Mean Sup 4060 retest could be undertaken with an eye on the inner stepping stone of Mean Sup 4015 and completion of the Inner Index Dip 3980.
Inflationhedge
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Feb 17, 2023Technical Analysis and Outlook:
The coin is resting comfortably at our Key Res $24,500, as shown on the Bitcoin Daily Chart Analysis Update For the Week of Feb 16. We expect a pullback to our Mean Sup $23,500 for this week's price action. Once this puppy settles down, we will see a resurgence to the upside - the initial target of Key Res $24,500 (Retest) with a rally all the way to the Outer Coin Rally of $26,000 and Soon-To-Be the Outer Coin Rally of $27,000 outcome.
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Feb 10, 2023Technical Analysis and Outlook:
Bitcoin hit our initial progressive pullback Mean Sup $22,500 and extended a retreat to Mean Sup $21,500 on Friday as shown on Bitcoin Daily Chart Analysis For the Week of Feb 3. Once this puppy flushed out weak-longs, resumption to the upside shows the initial target of Mean Res $22,650 with a possible rally all the way to the Mean Res $23,300 and $24,000 - this week.
Gold a currency hedge assetThe 2 key reasons why gold keeps rising it is because
1) Gold is an inflation hedge asset
2) Gold is a currency hedge asset
Content:
• Gold is still an inflation hedge instrument
• Gold is also a currency hedge instrument
• How to invest & trade in Gold?
CME Micro Gold Futures
Minimum fluctuation
0.1 = $1
1 = $10
10 = $100
100 = $1,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
U.S. stock market remains unchanged despite soaring CPI figures
U.S. stock market futures S&P and NASDAQ have not changed significantly.
The market predicted a fall in inflation compared to the previous month, but it showed an increase not only above the forecast but also compared to the previous month.
S&P 500 Daily Chart Analysis For Week of February 10, 2023Technical Analysis and Outlook
Spooz hit our Mean Sup 4060 target as shown on S&P 500 Daily Chart Analysis For the Week of Feb 3. With the confirmation of the Key Res $4180 in place, the current dead cat rebound is expected to take us to Mean Res 4120 - However, keep in mind that the bullish market sentiment is intact, and a significant possibility that the Key Res $4180 retest could be launched with an eye on completion of the Outer Index Rally 4230. But if all fails, the index will take us down to two Mean Support targets: 4015 and 3970, for this week's trading scenario.
EUR/USD Daily Chart Analysis For Week of February 10, 2023Technical Analysis and Outlook:
The Eurodollar this week continued a downward spiral retreat to the crime scene of Mean Sup 1.078 and Mean Sup 1.070 from our newly created Mean Res 1.099 as shown on EUR/USD Daily Chart Analysis For the Week of Feb 3. The leading target designations are Mean Sup 1.052 and Inner Currency Dip 1.046 - dead cat rebound is expected.
DAX H4: Too early for bears to enter? Fed did it again.Bears in Twitter start to ask themselves whether they were all wrong or they were too early to bet against the market after the Fed was hawkish-but-not-too-hawkish in yesterday's meeting. DAX is a heavily automotive, banks and other cyclic assets weighted European index. Europe has performed better than America, but if ECB decides to implement an even more hawkish strategy than that of the Fed, those "better European gains" will vanish relatively soon. That is why, together with the current economic, political and social-unrest context; I am beginning to feel bearish on DAX and CAC. DAX could be shaping a H&S pattern the next days that could end up pretty bad if inflation does not calm down, ECB continues to raise rates and unemployment increases.
Therefore, my prediction is that DAX will not reach ATHs and stay around 15580-16250 to drop later on to 11350-13350.
Could there be again a Head and Shoulders on its way?
2 Key Reasons Gold Keep RisingThere are two assets being the best hedge against inflation, they are stocks and commodities, especially the precious metals.
How are they performing so far? Who is the real winner and how about if inflation persists, between stock & precious metals who will perform better in the near and further future, and why?
Content:
• Their performance in the last: (who is the winner?)
i. 50 years
ii. 20 years and
iii. 3 years
• Market outlook if inflation persisted
• 2 key reasons for gold keep rising
Gold as an inflation hedge has cast a lot of doubts. I hope today’s presentation has given you a better appreciation about Gold.
2 key reasons for gold keep rising
• 1st Key - Easy money policy produces inflation - We all know by now printing money will cause inflation
• 2nd Key – Gold is a currency hedge
Some argue that with higher interest rates to come, Gold may face greater headwinds ahead because of a stronger dollar, we will discuss Gold as a currency hedge next week.
CME Micro Gold Futures
Minimum fluctuation
0.1 = $1
1 = $10
10 = $100
100 = $1,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
S&P 500 Daily Chart Analysis For Week of February 3, 2023Technical Analysis and Outlook
Spooz hit our target Outer Index Rally 4140 and beyond. The development of the Key Res $4180 is in progress. The bullish market sentiment is intact. The pullbacks with this ongoing rally are expected to target the newly created Mean Sup 4060, and possibly an extension to the crime scene Mean Sup 4015.
EUR/USD Daily Chart Analysis For Week of February 3, 2023Technical Analysis and Outlook:
The Eurodollar pivoted from completing our newly created Mean Res 1.099 and is returning to the crime scene of Mean Sup 1.078 with possible additional downward movement to Mean Sup 1.070 - dead cat rebound is expected.
S&P 500 Daily Chart Analysis For Week of January 27, 2023Technical Analysis and Outlook
Spooz continuously displays a bullish influence on the current market sentiment, with the upside trend hitting our targets Mean Res 4085 and continuous driving momentum to Outer Index Rally 4140. The pullbacks with this ongoing rally are expected to target Mean Sup 4015 and possibly extension to Mean Sup 3970.
EUR/USD Daily Chart Analysis For Week of January 27, 2023Technical Analysis and Outlook:
The currency pivoted about our newly created Key Res 1.091 and is heading down to Mean Sup 1.078 with possible additional buster energy to Mean Sup 1.070 before reigniting upward action to the Outer Currency Rally $1.110 in the near future.
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Jan 27, 2023Technical Analysis and Outlook:
The coin hoovered under our completed with conformation Outer Coin Rally of $23,300 throughout the week - expect a pullback to the newly created Mean Sup $22,500 and, as a bonus, Mean Sup $21,500. Once this puppy flushes out weak-longs, resumption to retest the Outer Coin Rally of $23,300 and $26,000 is inevitable.
Crude oil a leading inflation indicatorTwo observation made the last two years between crude oil and CPI:
1) There were 5 waves up and
2) 3 significant peaks
However, between the last 2 peaks of crude, it was a lower low follow-by its downtrend, and CPI followed this downtrend subsequently.
Among many commodities, crude oil moves the most in tandem with CPI, but crude seems to lead in this study.
Refer to the daily chart on your own, try drawing a downtrend line, you will see crude oil prices has broken above its downtrend line recently. If crude oil is going to transit to an uptrend from here, we will have to track CPI very closely. The inflation fear is still there.
Did a video on this observation last week, refer to the link below.
Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
S&P 500 Daily Chart Analysis For Week of January 20, 2023Technical Analysis and Outlook
The upside target to the Mean Res 4820 was targeted within a mid-week, with the hasty pullback to our designated Men Sup 3950 and 3890. The index continuously displays a bullish influence on the current market sentiment with upside replication of targets to Mean Res 4020. Key Res 4085 and Outer Index Rally 4140. The pullbacks with this upcoming major rally are to be expected.
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Jan 20, 2023Technical Analysis and Outlook:
Bitcoin completed the Outer Coin Rally of $21,200 and Key Res $ 21,300 on January 14 and stayed very near the outcome throughout the week - busting through on Friday with follow-through on Saturday to complete the interim Outer Coin Rally of $23,000 (Not shown 60 min chart). The pending confirmation is in the process - Once confirmed, the pullback to Mean Sup $20,600 is inevitable. Once this puppy settles down, we will see a resurgence on the upside to finalize the Outer Coin Rally of $26,000.
Correlation – Crude Oil & CPIStudies indicated Crude Oil is the best indicator to track the current inflation.
It is also a leading indicator to inflation numbers? If that is true, we will have to track the crude oil prices very closely.
Content:
i. The most inline commodity with CPI
ii. Can the Crude Oil track CPI?
iii. Direction of Crude Oil
Crude Oil Futures
Minimum fluctuation
0.01 = $10
0.10 = $100
1.00 = $1,000
10.00 = $10,000
Disclaimer:
• What presented here is not a recommendation, please consult your licensed broker.
• Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises.
CME Real-time Market Data help identify trading set-ups in real-time and express my market views. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com
S&P 500 Daily Chart Analysis For Week of January 13, 2023Technical Analysis and Outlook
The completion of Inner Index Dip 3785 was a significant upsurge platform. The upside target to the Mean Res 4820 is in the process of being finalized, and the index continuously displays a bullish influence on the current market sentiment. The additional upside moves to Mean Res 4085, with Outer Index Rally 4140 currently being at the crosshair. The sudden pullback from hitting the Mean Res 4020 is expected to Men Sup 3950.
EUR/USD Daily Chart Analysis For Week of January 13, 2023Technical Analysis and Outlook:
The euro-dollar has bounced strongly from Mean Sup 1.052 as specified EUR/USD Daily Chart Analysis for January 6. The prevailing up path to the newly created Mean Res $1.070 and Key Res $1.078 is completed with the eye towards Outer Currency Rally 1.1100. However, be aware that this puppy is in the process of breaking downwards to newly formed Mean Sup $1.070 to reignite upward action as specified above.
Bitcoin (BTC/USD) Daily Chart Analysis For Week of Jan 13, 2023Technical Analysis and Outlook:
Bitcoin surged above $21,000 on Saturday for the first time in two months as the crypto rammed through our Mean Res $17,000, Mean Res $17,800, Mean Res $18,500, and Outer Coin Rally $19,100 throughout the week. The price action signifies a completed Outer Coin Rally of $21,200 (Not shown - 60 min chart) and significant Key Res $21,300 first introduced Bitcoin Daily Chart Analysis For Week of Nov 11. We expect a pullback to the newly created Mean Sup of $18,800. Once this puppy settles down, we will see a resurgence on the upside to retest the Outer Coin Rally of $21,200.
Inflation Report: 11 Jan 2023Finally there is a sense of relief.
The US inflation is just on a some-what downward spiral.
It's almost as if we peaked at a whopping 9.1% and now dropping to around 6%.
And let's not forget all our friends abroad, like Germany where it's dropped from 10. 4 in October down to 8.6%,
UK dropping from 11.1% slightly down to 10.7%,
Canada's 8.1 dropped to 6.8%,
France's steady 6.2%,
and China's decent1.6%.
And let's not forget our lekker country, South Africa where inflation has also dropped from 7.8% down to 7.4%.
It's just too bad all these numbers are due to supply chain issues, war, and food shortages.
But it looks like we have potentially seen the end of The Great Inflation - and now things should start to settle.
Your thoughts?
Trade well, live free
Timon
(Trader since 2003)