Weekly Inter Market Analysis Oct 16-2016

See previous week Weekly Inter Market Analysis.

Original post from https://mystocksinvesting.com


SPY broke down from the symmetrical triangle but immediately rebounded from big Rising Wedge support. 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 spiked above 15 on the break down of the symmetrical triangle of SPY. Need to see whether VIX can stay above 15 in coming week.



Sector Performance (SPDR Sector ETF)

  • Best Sectors: Utilities (XLU) +1.34%
  • Worst Sector: Health Care (XLV)  -3.13%



SUDX (S&P US Dollar Futures Index)

SUDX broke out from the Symmetrical Triangle and continue to break support turned resistance at about 129.04. Currently SUDX is facing the next resistance at 130.36. Still need to wait for the retracement to confirm the breakout.



FXE (Currency Shares Euro ETF)

FXE broke the rising trend support. Can this be the next big move down?



XLE (SPDR Energy Sector ETF)

XLE is expected to trade within the up trend channel.



USO (United States Oil Fund)

USO is just resting on 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.



TLT (iShares 20+ Years Treasury Bond ETF)

TLT broke another support at 132.5 and closed just below the 200D SMA! Is the treasury bond beginning to sell off? Sit up and pay attention!



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:

  • ECB Draghi speaks on Oct 18 (Tuesday)
  • Crude Oil Inventory on Oct 19 (Wednesday)
  • ECB Press Conference on Oct 20 (Friday)


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