Many stock indices are looking quite bullish at the moment and a few are in the process of breaking up through major resistance levels. This is how I am seeing them and, also, a couple of commodities and a few different stocks.
Last week’s suggestion to watch for any Flag breakout on Gold led to a potential 300 pips. The precious metal is looking bullish as the US$ stalls and this is what I’m watching for this week.
Gold has been holding up quite well of late given the strong US$ but, whilst the precious metal is still consolidating in a longer-term wedge pattern, some Gold stocks are attempting to make bullish trend line breakouts. Any developing US$ weakness would help to keep the metal and these stock breakouts supported so keep an […]
The GBP/USD has been consistently printing a cycle of lower ‘Highs’ and lower ‘Lows’ since mid 2014. The pair seems to have the perfect storm raging against it with US$ strength, helped along by the recent FOMC, and GBP weakness, courtesy of Brexit, and this would support continuation of this pattern. However, trends do not […]
The QQQ ETF is an ETF that tracks the NASDAQ-100 index. The NASDAQ-100 differs from the NASDAQ composite index in that it lists only the largest 100 companies and excludes Financials. This index peaked at 120 back in March 2000 but this level hasn’t been touched since then. That was, until today! A monthly close […]