61.8% Fibonacci Retracement Level - My Stocks Investing

Weekly Inter Market Analysis Oct 23-2016

Post author:Marubozu
Post published:October 23, 2016

See previous week Weekly Inter Market Analysis.

Original post from https://mystocksinvesting.com

SPY (SPDR S&P500 ETF)

SPY is still staying above the big Rising Wedge support after broke down from a Symmetrical Triangle. Keep an eye this coming week to see whether there is a follow through of this breakdown.

Resistance turned support zone: 211-213
Rising Wedge immediate support: about 210
Previous Head and Shoulders neckline support: about 204.
Rising Wedge next support: about 200

VIX

VIX dropped below 15 again, a complacent zone. Still no fear in the stock market.

Sector Performance (SPDR Sector ETF)

Best Sectors: Material (XLB) +1.60%
Worst Sector: Industrial (XLI) -0.24%

SUDX (S&P US Dollar Futures Index)

SUDX broke out from the Symmetrical Triangle and broke the next resistance at 130.36. If this continues, SUDX will start a confirm uptrend.

FXE (Currency Shares Euro ETF)

FXE broke the rising trend support and currently testing a critical support. If this support (red zone) is broken, FXE is expected to star a next down trend move.

fxe-oct23-2016

XLE (SPDR Energy Sector ETF)

XLE is expected to trade within the up trend channel. 200D SMA is starting to trend up. Keep an eye of the energy sector recovery (driven by Crude Oil, see USO chart)

USO (United States Oil Fund)

USO broke the resistance. If USO can stay above this resistance (about $11.44) and make this level a resistance turned support, USO will start an uptrend.

uso-oct23-2016

TLT (iShares 20+ Years Treasury Bond ETF)

TLT rebounded from the support at 132.5 and just closed just above the 200D SMA! 200D SMA is still trending up and coincides to 61.8% Fibonacci Retracement Level. This will be an attractive entry point if this 200D SMA support is valid.

GLD (SPDR Gold Shares)

GLD looks like rebounded from the 200D SMA support. 200D SMA is trending up.
GLD is also sitting on the 61.8% Fibonacci Retracement Support.
Expect GLD to rebound from level.

gld-oct23-2016

Next Week Economic Calendar

Key events:

Germany Manufacturing PMI Oct 24 (Monday)
ECB President Draghi speaks on Oct 26 (Wednesday)
Crude Oil Inventory on Oct 26 (Wednesday)
Pending Home Sales on Oct 27 (Thursday)

See other Events here. https://mystocksinvesting.com/events/

Weekly Inter Market Analysis Oct 9-2016

Post author:Marubozu
Post published:October 10, 2016

See previous week Weekly Inter Market Analysis.

Original post from https://mystocksinvesting.com

SPY (SPDR S&P500 ETF)

SPY is currently forming a symmetrical triangle in a big Rising Wedge pattern. Symmetrical Triangle is a consolidation pattern until breakout. Keep an eye on on key supports:

Resistance turned support zone: 211-213
Rising Wedge immediate support: about 210
Previous Head and Shoulders neckline support: about 204.
Rising Wedge next support: about 200

VIX

VIX still stays below 15 – a complacent zone.

Sector Performance (SPDR Sector ETF)

Best Sectors: Financials (XLF) +1.66%
Worst Sector: Real Estate (XLRE) – 5.28%

SUDX (S&P US Dollar Futures Index)

SUDX broke out from the Symmetrical Triangle but immediately rejected at the support turned resistance at about 129.04 with a shooting star. Still need to wait for the confirmation of the breakout. Next FOMC statement on Nov 1/2.

FXE (Currency Shares Euro ETF)

FXE is still trading sideway and range bound. Have to wait till next FOMC statement on Nov 1/2 before we can see the next big move.

XLE (SPDR Energy Sector ETF)

Uptrend channel redrawn. XLE moves above 69.31. Critical support at 64.74 which has been tested for 5 times.

USO (United States Oil Fund)

USO broke out from Symmetrical Triangle but immediately rejected at the strong resistance with a Hanging Man with confirmation. Expect bearish reversal in the coming week.

TLT (iShares 20+ Years Treasury Bond ETF)

TLT broke 137.51 support and currently just resting on the next support at 132.5 with a Doji, indicates a pause in the recent down trend. Very interesting to see the sell down in TLT when SPY is moving side way.

GLD (SPDR Gold Shares)

GLD broke down from the support with a gap down. GLD is currently testing a 200D SMA support. Can this 200D SMA support hold? Take note that 200D SMA is still trending up.
Fibonacci Retracement level redrawn for GLD. Currently GLD is also sitting on the 61.8% Fibonacci Retracement Support.
Expect GLD to rebound from level.

Next Week Economic Calendar

Key events:

FOMC Meeting Minutes on Oct 13 (Thursday)
Crude Oil Inventory on Oct 14 (Friday)
Janet Yellen speaks on Oct 15 (Saturday)

USO: Trading in an Up Trend Channel

Post author:Marubozu
Post published:June 19, 2016

USO continues its up trend in an uptrend channel. The US Oil ETF recently rebounded from the 61.8% Fibonacci Retracement level after showing a Bullish Kicker reversal candlestick. Current USO price at $11.66 is just above the 200D SMA of $11.65.

Immediate resistance at $12.47
Immediate support at about $11.13 followed by $10.52
20/40EMA, 20/50 SMA all trending up
Expect golden cross 50D/200D in next few trading days if USO stays above $11.13 support.

See previous USO chart and technical analysis here.