Sunday, September 17, 2017

Week Ahead 38

US Equities
SP500 made new high whereas NQ could not. SP500 on 4h has two pinbars that suggests an ongoing bull pressure.

The next target could be the measured move at 2560. Although the follow through of the breakout at 2490 is not particularly strong. On the other hand we are at 2500 that is technically not, but psychologically is a very important level. Should the 2500 fall, we could have a strong move up.  The 2500 level could create a bull trap ass well. Also, at the same time NQ could break the 6000. 

XLU: retest of the breakout or a bull trap?

Yields bounce back.

DBC has a strong daily rejection bar of the follow through new high, though the bullish trend is still intact.

USO is at the top of a nested range.

DBA breaks the previous low.

My favorite LIT goes parabolic.

It seems it wants to retest the 1300 level.

USD Index is still at the L/T support, but more selling than buying pressure.

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