Something Interesting in Financial Video June 2014 - page 5
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newdigital, 2014.06.19 14:40
USD/CAD: Is Bullish Bias Breaking Down?
While we remained above 1.08 my USD/CAD bias was for a resumption of the weekly bullish trend. However recent price action developments bring this into question and for a readjustment.
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newdigital, 2014.06.20 08:47
What To Make of GoldA parabolic move is a term that defines something that moves straight up. After the FOMC decision yesterday, XAUUSD has been on a bullish parabolic move.
XAUUSD, or Gold, has been on a steady downtrend since peaking out in late 2011. The corrections against the downtrend have been short-term in time and price relative to the downtrend. When looking at expiration of a correction or reversal of a trend, you often want to look for a break of a prior corrective high. XAUUSD has yet to do that, which brings up the potential for a resumption of a downtrend or another pattern worth discussing.
The near-term momentum currently favors Gold bulls. However, if a triangle is truly in play then there are three key levels you should be aware of to see if XAU is soon to turn around back down or break much higher. However, there are levels below that you should know as well.
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newdigital, 2014.06.22 09:08
Nikkei forecast for the week of June 23, 2014, Technical AnalysisThe Nikkei initially fell during the course of the week, but found the ¥15,000 level to be supportive enough to push the market higher. We broke above the ¥15,200 level, an area that we had pointed out as resistance previously. Because of this, we feel that the Nikkei is going to continue to go higher given enough time, and the fact that the Bank of Japan is flooding the market with liquidity doesn’t exactly hurt that argument either. After all, there will be no real yields coming out of the Japanese Government Bonds, so it forces money into the Nikkei itself. On top of that, as long as the US numbers are starting to improve, that is good for the export market out of Japan.
One of the biggest problems is the value of the Yen though, and as long as it remains elevated it is somewhat of a lid on this marketplace. Nonetheless, we feel that the Bank of Japan will get its way, inflating the Nikkei for the time being. The Nikkei should continue to offer value, as we have been grinding sideways for some time now. Pullbacks will continue to be buying opportunities as far as we can tell, and it’s not really until we get below the ¥14,000 level that we become worried about selling pressure.
We believe that this market will ultimately go to the ¥16,000 level in the short term, followed by much higher levels in the longer term. 20,000 isn’t exactly a stretch of imagination, although it would take a bit of time to get there obviously. Selling is not something that we are comfortable with at the moment, therefore we are looking to buy and buy only. Because of this, we can even look for shorter-term charts as signals, such as the daily chart. We believe also that a move higher will provide plenty of pullbacks for short-term traders to continue to profit off of this market as well, giving us a steady bullish presence in the Nikkei going forward as we continue the positive momentum.
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newdigital, 2014.06.22 10:28
DAX forecast for the week of June 23, 2014, Technical AnalysisThe DAX bounced off of the €9900 region in order to have a fairly positive looking week. However, it is obvious that the 10,000 level is still going to offer a bit of resistance, and as a result we need to see a weekly close above that level, as it would finally give us the confirmation that the market is going to take the next leg higher. There is massive support down at €9800, and we are most certainly in an uptrend. Because of this, we are “long only” of this particular market.
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newdigital, 2014.06.22 12:16
NASDAQ forecast for the week of June 23, 2014, Technical AnalysisThe NASDAQ rose during the course of the week, using the 4300 level as work. We closed at the very top of the range, and although you could make an argument for a “double top”, we feel that the market has enough momentum underneath to continue going higher. Is because of this that if we break the top of the range for the previous week, we are more than willing to start buying as we think this market really only can go in one direction at this point in time. 4000 will be the “floor.”
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newdigital, 2014.06.22 12:18
S&P 500 forecast for the week of June 23, 2014, Technical AnalysisThe S&P 500 rose during the course of the week, breaking out to a fresh new high. Because of this, we are very bullish of the S&P 500 and believe that we will eventually hit our longer-term target of 2000. This is a market that has been in a very nice uptrend for some time now, and until something major changes, we don’t see any argument for shorting this market. We also believe that the 1900 level will continue to be the “floor” in this market, thereby making this a “buy only” type of situation.
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newdigital, 2014.06.22 12:31
Dow Jones 30 forecast for the week of June 23, 2014, Technical AnalysisThe Dow Jones 30 rose during the course of the week as you can see, moving to the 17,000 area. This area is resisting, so we would believe that a move above 17,000 on a daily close would be enough to get the longer-term traders involved as well. Regardless, this is without a doubt a very positive market, and we do feel that ultimately that does happen. Pullbacks should continue to see plenty of support below, so we will buy supportive candles as they appear after dips.
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newdigital, 2014.06.22 12:40
Silver forecast for the week of June 23, 2014, Technical AnalysisThe silver markets had a very strong showing during the course of the week, breaking above the $20.50 level. In fact, Thursday was a source of most of the gains, and it now looks like we are heading towards the $22 handle. It’s at that area that we would expect see a bit of resistance, but if we can get above there we think that the market is probably going to head to the $25 level given enough time.
The silver markets do look bullish in general over the last couple of weeks, and a move above the $22 level would be enough to get us to start thinking that perhaps the trend is starting to change. If that’s the case, we could see explosive moves as the silver market tends to send very still for long periods of time and then suddenly take off in one direction or the other. We believe that the $25 level been at the site of a previous Will be difficult to get above, but once we get above that area, there can be no doubt as to what the future direction of the market will be overall.
If we do pullback from here, we feel that the market will more than likely find plenty of support below, so it’s almost impossible to short it at this point in time. Besides, there isn’t much in the way of room at this point time from a longer-term perspective as the area just below the $19 level has been so supportive. We need to break down significantly below that level in order to get very bearish, so with that being the case we feel that this is essentially at this point in time a “buy only” type of market.
Keep in mind that silver also has an industrial component to it, as it is used as a base metal from time to time in applications for industry. Because of that, it also is not only an anti-dollar play, but it is also reflective on economic conditions.