STOCK MARKETS
China, Japan and India all triggered a Weekly Buy signal. The UK followed suit, but Germany and USA are still on Weekly Sell signals. SP500 needs to close above 1665 and DAX above 8300 on a weekly basis. However, Germany, UK and USA triggered Daily Buy signals again on 04-05 September. .
Look for SP500 to trade 1630-1680 and FTSE 6460-6620 in the 2nd 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 $1391
Gold has hit resistance between $1425-$1450. Still looking for a pullback to $1350. It took Gold 6 months from Nov 2010 to April 2011 to break above $1450. Trade range $1350-$1400 next week.
OIL $110
West Texas Oil made a pull back to $105, so next move is 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.
China, Japan and India all triggered a Weekly Buy signal. The UK followed suit, but Germany and USA are still on Weekly Sell signals. SP500 needs to close above 1665 and DAX above 8300 on a weekly basis. However, Germany, UK and USA triggered Daily Buy signals again on 04-05 September. .
Look for SP500 to trade 1630-1680 and FTSE 6460-6620 in the 2nd 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 $1391
Gold has hit resistance between $1425-$1450. Still looking for a pullback to $1350. It took Gold 6 months from Nov 2010 to April 2011 to break above $1450. Trade range $1350-$1400 next week.
OIL $110
West Texas Oil made a pull back to $105, so next move is 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 | 6568 | 6413 | Buy | 6502 | 06 Sep | 6512 |
| USA SP500 | 1665 | 1633 | Sell | 1685 | 16 Aug | 1666 |
| DAX | 8296 | 8096 | Sell | 8246 | 30 Aug | 8243 |
| China HSI | 22700 | 21949 | Buy | 22116 | 06 Sep | 21682 |
| India BSE | 19293 | 18116 | Buy | 18728 | 06 Sep | 19167 |
| Japan NIK | 14157 | 13407 | Buy | 13772 | 06 Sep | 14004 |
| AORD | 5198 | 5114 | Buy | 5075 | 16 Aug | 5014 |
| GOLD | 1416 | 1359 | Sell | 1400 | 06 Sep | 1322 |
| Oil | 110.7 | 104.2 | Buy | 106 | 16 Aug | 105.5 |
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