Tuesday, February 25, 2014

Trading Week 24/02/14 Update 2

Tue 25th Feb (9 pm)
Cable: the 9 pm candle has suggested a new TS signal BUT price has still not closed above the monthly 200 EMA or above the top of the 4 hr Ichimoku Cloud. This signal would only be confirmed after a close above these levels:

Cable 4 hr:

Cable 4 hr Cloud:

Tue 25th Feb (6 pm)
Cable: I have a new TS 'Long' signal forming up on the 4hr cable chart. I've checked this against the Ichimoku charts and have noted that the Cable is above the Cloud on the daily and in the top edge of the Cloud on the 4hr. A move out of the 4 hr Cloud would tie in quite close to a move back above the monthly 200 EMA. I'll check again on the 9 pm candle for confirmation:

Cable 4 hr:
Cable 4 hr Cloud:

Cable video: Dean Malone posted a video on the Cable that is worth watching. It is comforting for me to see him using the same fibs and thinking along similar lines!

BTW: nothing else looks even close to forming a new trend signal!
Tue 25th Feb (4.15 pm)
Nikkei: I am seeing this index is up over the 15,00 level again. I'm keen to see where this closes for February, that is, at the end of this week as a close above the 15,000 and the bear trend line would lend support to bullish continuation here. The chart below does not contain today's action but shows the significance of these two levels:

Tue 25th Feb (1 pm)
No momentum or new TS signals anywhere but, as I've said, I'm not expecting to see any until the S&P500 clears the dance floor!

Tue 25th Feb (10.45 am)
S&P500: stocks had a bullish session with the S&P500 touching new highs mid session but, in the end, the index closed back down at the 'triple top' level. I am still waiting to see a clear 'make or break' of this level; either a close above, for some possible continuation, or a clear rejection and signs of bearish follow through. The ADX isn't giving too many clues just yet BUT it would not take too much more bullish action to get this indicator ticking upwards. The +DMI is already trending higher and the -DMI lower so these are already geared towards possible bullish follow through:

Tue 25th Feb (6.45 am)
Indices: the USDX continues to struggle under the weekly 200 EMA. The EURX is chopping sideways still though:

S&P500: this has yet to close for the day BUT a break of the previous high and resistance level looks likely: 

Silver and Gold: the lack of USD strngth has given these a boost and both look set to close above the resistance of their daily 200 EMAs:

A/U: has been bullish and probably with some help from Gold and the S&P500. The daily chart inverse H&S might come to life with any break and hold above the 0.905 level: 
A/U 4 hr:
A/U daily:

A/J: this had had a boost too and watch for any break and hold above the recent resistance trend line.
A/J 4 hr:

A/J daily:

Kiwi: is trading higher too and traders need to watch for any break out and up from the daily chart trading channel:
Kiwi 4 hr:
Kiwi daily:

AUD/NZD: choppy given both AUD and NZD strength:

E/U: choppy:

U/J: still chopping sideways too:

Cable: staying close the the monthly 200 EMA:

Aussie and commodities: I'd be keeping an eye on BHP this week to see if it can close back above the $40. I am not an Economist BUT I can't see how the A/U would keep sliding if there is increased 'hard' commodity demand:

I'm on the lookout for any return to classic style 'risk on'.

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