Look at NZDJPY which has potential to fall off a cliff and make a big move. SiMSCI could have topped with a very common reversal pattern. XAUUSD is also looking toppish and could turn out to be a disappointment to gold bulls.
XLP retains it’s status as a leading bear sector in the US market. At the moment, moving averages, price action and chart pattern paint a bearish reversal setup. 1) Moving average dead cross. 2) Bearish expansion in January terminates last 4 quarters of higher lows. 3) Fallen out of equidistant channel.
These are 4 oil and gas stocks listed on the Hong Kong Exchange that could be easily picked out with a stock scanner that looks for high volume trading or new 52-week high. They are Anton Oilfield, Sinopec, Hilong and Hong Hua.
EURUSD, AUDUSD and NZDUSD print new 52-week highs, USDCAD new 52-week low to mark their strengthening against USD; terminates previous year-year trend.
I would like to offer one time-tested technical reason why stock indices did not repeat Jan 2016’s global crash like any investors feared last month. By setting up a single moving average line, I make some observations of previous price action for S&P500, Straits Times Index, NASDAQ 100 and NZX 50.
Peter DeSario, editor of Elliott Wave International Interest Rates Pro Service, explains why this was a “monumental” week in the bond markets — and offers a preview of which markets he’s keeping his eye on.
With these chart features in 2016 including a new 52-week high and a golden cross in long term averages, really don’t see why XAUUSD is not a bullish reversal, new uptrend.