A Few Charts of interest.

Just a bit of an update and some interesting charts to keep the mind juices flowing…

• SPX tried to push through resistance last week, but ended the week a little softer.   Russell and emerging markets have been dragging, although the Nasdaq continued to push higher but now into resistance.  VIX has also come off very hard and short interest has fallen away, thus I believe this could be a medium term top.

• Nasdaq gap has held so far but pushing into resistance.   If there is any weakness this week, look for a gap fill target of ~4905

• The dollar index broke out a potential bull flag last week but has pulled back retesting the break zone.  This break is by no means out of the woods.  It does appear the the Dollar yen will push higher from here and the EURUSD will continue to break down.

• Fuel for the bears – Thursday last week – long term change showing the 2 month rate of change at record lows.

• XJO (ASX200) tested 5400 but sold off sharply, following the weaker metal prices down.  5200 is a support area.

• AUD also came off following the metal prices lower, but is holding above a decent support area just above 70c.

LP

DAX Index Trade Alert – Set Take Profit Limit

The other day, I released a DAX Index Trade alert to take advantage of a possible move higher over the next two months after the massive collapse we have recently seen. With the European Central Bank meeting to discuss the economic environment and the US releasing some key economic data in the form of the non-farm payrolls, volatility will be high. I am looking to take advantage of this by setting a limit order to take profits at a higher level. Read the full Order Alert below:

DAX Take Profit Limit Order 03.9.15

Update and New Trade Alert

How I currently feel. We carry on though…

It’s been a wild month of August. We have seen equity markets around the world shed billions of dollars and the losses in percentage terms managed to hit double figures. All in 3 weeks and all without any real reason in my opinion. To take advantage of what I believe will be a bumper run into the end of the year and the beginning of 2016, I have issued a near term trade alert on the DAX Index (Germany 30 Index), based on current price action, oversold indicators and the true belief that we will see the markets shake this fall and be back within the trading ranges seen before the recent collapse in the next 3 months.

There are plenty of opportunities out there and I am currently viewing WPL, WBC and TLS as great buying opportunities on local soil. Apple, Wells Fargo and Citigroup are my top names over in the US. Let me know if you would like more information about what I have my eyes on, how we are managing risk in this volatile environment and how I am looking to generate some returns.

Click the link below for the latest trade alert. As mentioned, in this environment we are looking for limited risk, unlimited potential trades due to the nature of the beast that is the general stock market at this point in time.

DAX Trade Alert 1.9.15

LP

+49.23% – TAKE PROFIT ON DAX TRADE ALERT

Please see Take Profit Alert below:

DAX TAKE PROFIT 23.6.15

LP

New Trade Alert – Buy DAX (Germany 30) Index

Trade Alert below:

DAX Trade Alert 17.6.15

LP

Greece is the word – News Update, Buy DAX Index.

• US stocks advanced (Dow up 113 points), erasing Monday’s slide, as investors speculate the Federal Reserve won’t rush to raise rates amid uncertainty over Greece’s future in the euro. The Standard & Poor’s 500 Index rose above its average price during the past 100 days.
• Investors continue to look for indications of progress in Greece’s debt talks after the Mediterranean nation signaled it won’t make further concessions to unlock bailout funds needed to avoid default. German Chancellor Angela Merkel struck a more appeasing chord, saying she’ll “do everything possible to keep Greece in the euro zone.”

DOW: +0.64%, S&P500: +0.57% and NASDAQ: +0.51%

• US Federal Reserve meeting in Washington. Fed chair Janet Yellen will host a news conference at the end of the two-day meeting. Expect to see some USD volatility.
• The euro fell for the first time in three days against the US dollar as concern grew that time is running out for Greece to secure a bailout. The 19-nation currency weakened versus most of its major peers after Prime Minister Alexis Tsipras hurled criticism at Greece’s creditors, accusing the International Monetary Fund of “criminal” responsibility for his country’s predicament.
• US crude prices rose overnight as a tropical storm moved ashore in the oil-producing state of Texas, but global oversupply limited gains and pressured Brent futures. WTI crude is trading at $60.94 USD/brl.
• Coca-Cola and Monster Beverage: Coke’s stock is down 5 percent for the year, while Monster is up 20 percent. However, Jim Cramer, CNBC’s market commentator, thinks that Monster’s stock is about to skyrocket because it uses Coke’s distribution system. Ultimately, ‘Coke should not limit itself at a 16.7 percent stake in Monster; it should just buy the whole thing’ he was quoted saying. MNST looks interesting to me form a chart perspective also, MACD indicator crossing, looking to break through moving averages. Look to gain a long exposure with a price target of $142.00. Current price is $132.18.

Monster Chart:

• The DAX chart above is one I have been commenting on over the past couple of weeks. I think we may start to see a bit of upside from these levels. Germany wants Greece in the EU no matter what as quoted above by Merkel. We may see the Germany 30 hover around the 11,000 mark before looking to move higher. I originally thought there would be some more downside to 10,500 but it looks like we may find support at this level. Volatility with Greece will whipsaw the index around and hit close stop losses. If you do take a position, look for a move to 11,450 as a target.

LP

About time we saw green!

Good Morning,

Finally….

Some love, after seeing the index only trade in the red since the beginning of June we were up 7 points on the ASX at yesterdays close.

Dow Jones up 264 points

Crude Oil up 1.65%

Gold up 0.66%

Iron Ore up past $65.00/tonne

I am certainly feeling happy this morning….

Now…

The big question will be whether the ASX will actually end the day higher …

The answer is yes, it will.

So why the rally? Germany may be satisfied with Greece committing to at least one economic reform sought by creditors to open the door to bailout funds, according to two people familiar with the country’s position. A government spokesman denied that Germany is considering such a deal.

U.S. crude stockpiles capped their longest stretch of weekly declines since August. This is good news for oil……

Yesterday, clients received an email with a DAX (Germany 30 index) recommendation to buy the index through whichever means. If you bought 20 Index CFD’s and put aside 4500 EUR margin, you would currently be up over 5K EUR profit this morning. Should see it trade up to 11,500. Currently 11,259.

To Thirsty Thursday!

LP