Trading Week 08/07/13

Thursday 11th July (8.30am) Hawaii

USDX: The USD is still down after the recent battering.

EURX: I’d still like to see this break out of the triangle:

S&P500: I still want to see where the weekly candle closes to confirm any ‘Bull Flag’ here:

S&P500 monthly chat:  This is still holding above the 1,600 level. This top still looks different to me than the last two tops of 2000 and 2007 as I’m not seeing the divergence now that was evident back then:

E/U: still holding up

A/U: I’m watching for any daily close out of the channel: 

G/U: looking bullish but need to see the weekly close I think.

Wednesday 10 th July (4.45 pm) Hawaii

USDX: Fed comments have sent the USD tumbling. The double top on the weekly chart has now evolved:

EURX: This has had the effect of boosting the Euro. The bullish ascending triangle looks to be forming up further:

Ichimoku alignment: We now have the situation where the Ichimoku charts are aligned for ‘risk on’. price is above the Cloud on both the EURX daily and 4hr charts:

Price is below the Cloud on the USDX for the daily and 4hr charts: 

E/U: the short signal has now closed off after giving over 160 pips. I have missed the new LONG signal though. A point to note here is that price for the E/U is above its Ichimoku Cloud now on the daily and 4hr time frame which is bullish: 
A/U: there has been a trend channel break but I need to see if this daily candle closes up and out of the channel. Also, as yet, there is no signal to LONG on the 4hr chart. That has been the case with the A/U a lot though lately….not giving any clear TS signals:

G/U: this short signal has now closed after giving over 200 pips. I have missed a new long signal here on the 4hr chart. The daily chart shows a possible bullish descending broadening wedge pattern forming up. It might be safer to see this break first. Also, price for the G/U is still under its Ichimoku Cloud on the daily and 4hr time frame.:

U/J: has fallen hard but no TS signal formed up: 

Gold: the short signal closed for a loss but a new long signal is trying to form up:
S&P500: this index is looking bullish for sure now. I’ll be keen to see where the weekly candle closes:

S&P500 Ichimoku: price is now well back above the Cloud which is bullish: 

S&P500 daily chart: price is back above the daily support trend line. It looks like it might well have been a bull flag after all!

Tuesday 9th July (8.30 pm) Hawaii

I didn’t have any internet for the last 24hrs hence no update. I do see though that the S&P500 has made some bullish moves:
  • a bull flag breakout on the weekly chart. The weekly close would be needed here to confimr this breakout though:

  •  A close back above the Ichimoku Cloud and a bullish Tenkan/Kijun cross, albeit a weak one:

I’m dog tired after lots of travel and I’ll update more tomorrow.

Monday 8th July (7.45 am) Carmel.
The USDX seems to be struggling a bit which is boosting some ‘risk on’:

I have a day in the car today…Carmel to LAX….about 6 hrs of it.

Sunday 7th July (5.20 pm) Carmel, California

The EURX is acting a little bullish in early Asian session trading:

USDX: stalling a bit at the 75% fib retrace level from the last major swing high.

S&P500: up a bit in pre-market trading and soon to test a weekly trend line:

E/U: holding above the 1.28 level for now: 

A/U: holding above 0.90 level for now