Trading news

S&P 500 – market prognosis for calendar week 31/2015

Weekly chart:

Once again, the S&P 500 has abandoned the movement it had begun and has virtually equalized the candle from the previous week. This is not a good sign, and means that the chances for the coming week are definitely more on the low side.

Chart1

Daily chart:

In trading according to the Dow theory, there is a basic principle: a break in the trend is a long way off from signaling a new trend. We can observe that this week in the daily chart. The preceding downtrend was broken last week, whereupon I wrote that a return to the 20 location point line (LP) would be desirable. And the market did indeed fulfill my desire this week. It did this, however, in a speed that indicates continuously decreasing prices in the coming week. This would mean that the supposed trend break was only a picking-up of the stop at point three, and that the red downtrend is indeed going to continue. In the best-case scenario, the buyers will come back into the market at the 20 LP from the daily chart.

Chart2

Hourly chart:

The hourly chart is showing the current drama and sell-off. The red trend is relatively young and is far in the movement. At the beginning of the coming week, a correction back to the two LPs from day and week and/or into the blue correction zone will presumably occur. Here it will then be decided whether the downtrend will continue.

Chart3

All the best

Markus Gabel

Head of Sales/Trading

AgenaTrader/TradeEscort

AgenaTrader Trading Software

IMPORTANT NOTE: Exchange transactions are associated with significant risks. Those who trade on the financial and commodity markets must familiarize themselves with these risks. Possible analyses, techniques and methods presented here are not an invitation to trade on the financial and commodity markets. They serve only for illustration, further education, and information purposes, and do not constitute investment advice or personal recommendations in any way. They are intended only to facilitate the customer's investment decision, and do not replace the advice of an investor or specific investment advice. The customer trades completely at his or her own risk. Please refer to the current version of the Terms and Conditions.

Friday, 24 Jul, 2015 / 8:21

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