+ Using the Congestion Count to Trade Intraday Sterling
+ McClellan on the McClellan Oscillator
+ Trading the S&P 500 Using the COT Report
+ Interview with Anne Whitby of 4CAST
+ The Fall and Rise of the Advance-Decline Line
+ Intraday Trading: Revisiting the 1-Box Reversal
+ Genetically Engineered Trading
+ Interview with Robin Griffiths, HSBC
+ The Simple ABC Correction
+ Trading Partial Declines & Rises
+ Interpreting Volume and Open Interest in US Treasury Bond Futures
+ Interview with Richard L. Weissman, Oxford Princeton University
Potential downside weakness of the S&P threatens long-term trendlines says Walter Zimmerman of United-ICAP. Intermediate support exists at 1765 and trendline support at 1756 and then 1640, but the situation looks more ominous the longer prices sit just above recent lows.
USD/CAD has already triggered significant trend reversals over the short, medium and long-term, according to George Davis of RBC Capital Markets.
Safe haven flows into the Yen after the EM sell-off means 101.65 is the level to watch for USD/JPY, says George Davis at RBC Capital Markets. Below this the corrective downtrend is resumed. A close above the 104.36 trendline will end this downtrend.
USD/ARS looks to be taking some time to consolidate the parabolic move near 8.00 but should look to top at around 8.25/55 over the next one to two months, says Rob Zukowski at 4Cast. A reversal should then see the market return to where it started the sell-off at 6.80/7.00.
BNP Paribas has maintained a bullish outlook for the S&P500, despite recent declines, as the 100-day moving average remains unbroken and a significant support line. For their weekly coverage of equities as well as bonds, FX and commodities, read their full report.
Although short-term technicals continue to look bearish, major support levels remain for US stocks, according to Brian Larose at United-ICAP. Despite a case for a major topping pattern in the S&P, support will need to be broken at 1767-1762, 1744-1736, and 1681 for this to be confirmed.
Buying gold stocks is preferable to buying gold itself, says Ari Wald of Wolfe Research. Exhaustion in the gold/NYSE gold miners index means the ratio has now moved in favour of stocks. This signal is enhanced by bearish divergence in the weekly RSI.