STOCK MARKETS
Germany joined the rest of the West and triggered a Weekly Sell signal. China close below 21900 again and triggered a Weekly Sell signal. UK and USA triggered Daily Sell signals again on Tuesday 27 August. India and Japan remain on weekly Sell.
Look for SP500 to trade 1610-1660 and FTSE 6350-6550 in the first week of September.
Long term I'm looking to Buy the FTSE in 5800-6000 region. Bear market trigger is Weekly close below 5800. Bull market would be another close above 6500 with a target 7200 by March 2014.
GOLD
Gold looks like it has hit resistance between $1425-$1450. I am looking for a pullback to $1300-$1350 over the next 2 weeks. It took Gold 6 months from Nov 2010 to April 2011 to break above $1450.
OIL
Watching West Texas Oil make a pull back to $105 before a move up to test the $115 high last seen April/May 2011. A weekly close above $115 would trigger a move up to the 2008 high near $150 and send the World into another recession in 2014. Syria military strike by the USA in September may be the trigger.
Germany joined the rest of the West and triggered a Weekly Sell signal. China close below 21900 again and triggered a Weekly Sell signal. UK and USA triggered Daily Sell signals again on Tuesday 27 August. India and Japan remain on weekly Sell.
Look for SP500 to trade 1610-1660 and FTSE 6350-6550 in the first week of September.
Long term I'm looking to Buy the FTSE in 5800-6000 region. Bear market trigger is Weekly close below 5800. Bull market would be another close above 6500 with a target 7200 by March 2014.
GOLD
Gold looks like it has hit resistance between $1425-$1450. I am looking for a pullback to $1300-$1350 over the next 2 weeks. It took Gold 6 months from Nov 2010 to April 2011 to break above $1450.
OIL
Watching West Texas Oil make a pull back to $105 before a move up to test the $115 high last seen April/May 2011. A weekly close above $115 would trigger a move up to the 2008 high near $150 and send the World into another recession in 2014. Syria military strike by the USA in September may be the trigger.
| Sector | High | Low | Weekly | Price | When | 50ema |
|---|---|---|---|---|---|---|
| UK FTSE | 6502 | 6393 | Sell | 6550 | 16 Aug | 6474 |
| USA SP500 | 1669 | 1627 | Sell | 1685 | 16 Aug | 1660 |
| DAX | 8475 | 8095 | Sell | 8246 | 30 Aug | 8208 |
| China HSI | 22116 | 21538 | Sell | 21900 | 30 Aug | 21453 |
| India BSE | 18728 | 17448 | Sell | 19750 | 02 Aug | 19152 |
| Japan NIK | 13772 | 13188 | Sell | 14500 | 26 July | 13919 |
| AORD | 5148 | 5055 | Buy | 5075 | 16 Aug | 4976 |
| GOLD | 1434 | 1388 | Buy | 1267 | 12 July | 1312 |
| Oil | 112.2 | 105.6 | Buy | 106 | 16 Aug | 104.2 |
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