This is a test trial research piece that we are trying out. It is not written by Woody Dorsey or Gary Dean. It is an experienced third party researcher. Let us know how you like it. We may or may not incorporate it into our regular reports.
Premier markets education
Highlighting potential areas of price exhaustion/ acceleration for the coming week
Focus time horizons – Daily: Focus markets: SPX/ Nasdaq/ WTI/ Gold/ DXY
Methodology – We attempt to identify levels within the chart where price could not stay for any length of time, therefore indicating the probability of willing buyers or sellers in or around these areas
In a sentence:
“The SPX daily uptrend remains intact but price is now testing a break of the 8 EMA (black line), with RSI also continuing to diverge with lower tops, and the current pattern looking very extended versus its most recent uptrend line (blue)”
Current trend: UP / Current resistance: 2595/ Current support: 2480 (origin of most recent move i.e. breakout level)
Candlestick sentiment: Long tails and ‘doji’ like patterns (shaded area) suggest ongoing indecision at current levels
Upcoming catalyst(s) to be aware of: Retail Sales (MoM/ Oct) release – Wednesday 15th
Premier markets education
Highlighting potential areas of price exhaustion/ acceleration for the coming week
In a sentence:
“Bulls remain in charge on the back of strong numbers from AMZN and MSFT, however price does look extended versus its most recent upward trendline, with RSI NOW showing signs of a turn lower”
Current trend: UP / Current resistance: 6342/ Current ‘fresh’ support: 6005 (price has not, as yet retested this level – therefore it is a ‘fresh’ level)
Candlestick sentiment: More recent spindles (shaded area) suggest indecision becoming more elevated
Upcoming catalyst(s) to be aware of: Cisco – Nov 15th/ JD.Com – Nov 13th
Premier markets education
Highlighting potential areas of price exhaustion/ acceleration for the coming week
WTI – Watch for some profit taking
In a sentence:
“Now looking overbought versus its most recent uptrend line with RSI also looking stretched to the upside”
Current trend: UP / Current resistance: 57.65/ Current support: 52.20 (origin of most recent move in that price has not yet come back to test this ‘fresh’ level)
Candlestick sentiment: More recent spindles (shaded area) suggest indecision becoming more elevated
Upcoming/ recent catalyst(s) to be aware of: EIA Crude Oil Stocks Change (Nov 10th) – Nov 15th
Latest Cot positioning: CME WTI positioning higher on the week to Oct 31st, Net position – Long
Seasonal bias: Tends to be weaker over the month of November
Premier markets education
Highlighting potential areas of price exhaustion/ acceleration for the coming week
In a sentence:
“Starting to show tentative signs of an uptrend, albeit very early stages”
Current trend: SIDEWAYS/ Current resistance: 1290/ Current support: 1250 (note the early August price rejection from this latter point, indicating willing buyers at this round number level)
Candlestick sentiment: Bearish engulfing setups of late (shaded area) but RSI NOW making higher lows
Upcoming catalysts to be aware of: Latest CFTC Gold positioning – Nov 17th
Latest Cot positioning: CME positioning marginally lower on the week to Oct 31st, Net position – Long
Seasonal bias: Tends to trade sideways over the month of November
Premier markets education
Highlighting potential areas of price exhaustion/ acceleration for the coming week
In a sentence:
“A clearer uptrend has been the feature of late however RSI is now turning lower with bearish candles over recent sessions”
Current trend: UP / Current resistance: 95.14/ Current support: 93.51 (origin of most recent ‘speedbar’ move)
Candlestick sentiment: Bearish engulfing (shaded area) which suggests the possibility of some further near term weakness
Upcoming catalyst(s) to be aware of: Latest CFTC USD positioning – Nov 17th
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