Macro Technicals Text-Version
Discover more from Investor Charts
Here is the full YouTube clip, but below is the text version.
Bitcoin is a short here against the 23,640 area given DeMARK 9 sell setups on short-term time frames along with the 240M. Daily 13 combos all faded risk levels which means the trend has now flipped to the downside.
The Nasdaq failed to qualify TD Propulsion up on the hourly chart and has qualified TDST downside breaks. This means we should wait for the 13 to complete. I remain bearish and added somewhat to short positions today
Yen currently has a short-term buy exhaustion signal but we have qualified TD Propulsion up to 137.993 in USDJPY. Medium term trend is up. No reason to start fading yet unless one is anticipating a reversal tomorrow.
Which could happen, because EM is now short-term oversold. Personally, it seems like the dollar is set on continuing its medium term uptrend. However, with USDJPY giving some pause and EEM showing exhaustion, it could be time to lock in some profits on this directional trade.
It all seems like the market is somewhat mixed going into the CPI reading. Here are some other key events this week:
US wholesale inventories, Conf. Board consumer confidence, Tuesday
China manufacturing PMI, non-manufacturing PMI, Caixin manufacturing PMI, Wednesday
Eurozone S&P Global Eurozone Manufacturing PMI, Wednesday
US construction spending, ISM Manufacturing, light vehicle sales, Wednesday
Eurozone CPI, unemployment, Thursday
US initial jobless claims, Thursday
Eurozone S&P Global Eurozone Services PMI, PPI, Friday
Chart updates on the macro side:
