Last week: There was another noteworthy event last week and this was the print of much higher than expected US CPI data. The higher inflation data raised the specter of higher interest rates and this certainly spooked stock traders and investors and soured risk sentiment. So much so, that the S&P500 and DJIA have printed […]

Last week: The noteworthy event of last week was the huge miss with the monthly US jobs report. Whilst there has been plenty of commentary about the reasons for the weaker than expected jobs report, my focus is on the technical impact of this data release and I saw this as twofold: weakness for the […]

Last week: I noted in my last weekly update how US stocks were flashing a signal of hesitation. This evolved in the last week to a signal of mild warning with all four of the US stock index majors, S&P500, DJIA, NASDAQ and Russell-2000 printing bearish weekly candles, in spite of better than expected Earnings […]

Last week: The weekly charts of the four major US stock indices reveal some new hesitation. Indecision-style candles, albeit bullish coloured, were printed on the S&P500, NASDAQ and Russell-2000 but the DJIA printed a bearish-reversal candle. Whilst 83% percent of US earnings reported thus far have beaten expectations it is suspected that much of this […]

Last week: In my weekend update from two weeks ago, on April 4th 2021, I noted bullish-reversal descending wedge patterns on the 4hr charts of Gold, the EUR/USD, AUD/USD, NZD/USD and GBP/USD (see screen shot below). Since that update, bullish wedge breakouts have triggered and yielded $40 on Gold, 200 pips on the EUR/USD, 120 […]