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Euro to reach 1.17 versus Dollar in 2012 ($EURUSD)

Posted by K on May 29, 2012
Market Analysis / Comments Off on Euro to reach 1.17 versus Dollar in 2012 ($EURUSD)

With the current re-ignition of market turmoil in Europe and their unifying currency, the Euro is in trouble again in part due to fears of Greek default an exit from the Euro, the Spanish bank bailouts and many other issues currently facing European countries (as well as US).

News are absorbed in the market faster than you can blink with today’s technological tools and robot trading programs so its time to exploit my perceived strength which is long term technical analysis.

The charts you will see below are very simple charts of the Euro as far back as I could get data for and the conclusion I came to is that $EURUSD will reach the 1.17 mark again within months in 2012.

Note: The Bigger and longer term version of the chart can be found by clicking on the image below.


Would love to hear your opinion and take on this so feel free to comment or tweet and include @investingfreak

-K

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S&P 500 Weekly Chart ($SPY, $SPX)

Posted by K on May 25, 2012
General / Comments Off on S&P 500 Weekly Chart ($SPY, $SPX)

Today the S&P 500 was taking a break and heading to the Hamptons for the long weekend (or maybe for the entire summer).
Is the market poised to absorb most negative news that’s already out there or what?

The Weekly chart looks to be bouncing although there are always fake-outs. For any newcomer that is new to charting just a note that each candlestick on the chart represents 1 WEEK of price movement so what happens on Tuesday when the market opens has no real effect on this chart until close on Friday.

The 50 and 70 Weekly Simple Moving averages are below the price supporting it and it looks like a trendline from last October is also still intact and providing some support and if this market has legs we might see 2-4% move to the upside until the Greek elections a month from now.

Click the chart to enlarge it.

I had long SPY call options and upon wanting to add today my subconscious mind decided to liquidate. We shall see if its smarter than my brain and can feel something I’m not feeling or seeing.

Have a safe memorial weekend,
K-man

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TSO Watch (in the near future)

Posted by K on February 24, 2009
General / Comments Off on TSO Watch (in the near future)

TSO watch for a bullish harmonic pattern in the future (March-April maybe?)

Drawing fib on it in january there was a harmonic bearish pattern from 15-29th. That completed and stock fell temporarily then 2 weeks from earnings prices usually go up in buy the rumor sell the news.
If from 19 to 13 drop is as low as it will go right now then i have 2 choices for the highs.

(a) 61.8% is $16.83 Target then reverse to $10.87 which might prove a good entry for the next wave up.
(b) 78.6% is $17.84 Target then retrace to $11.85 which might prove a good entry for the next wave up.

This sets up a large bullish pattern which is “harmonic” to see if it holds.
Keep in mind I am using 60mins and not daily observation but 10.78-11.85 is the Possible reversal zone for TSO.  

Here comes the chart (without dates below because I don’t want you thinking at those certain dates the prices will match up.  (Click to enlarge)

 

tso-fib-retracement-feb24-2009

 Hope you enjoy and always feel free to leave a comment.
-K

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The Dow Jones Industrial Index has not yet bottomed.

Posted by K on June 22, 2008
Market Analysis / 1 Comment

The Dow Jones Industrial Average doesn’t appear to have bottomed out as of today.
The news that are coming are still not good and the technical chart all points to even lower market soon.

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