Daily Market Intelligence 7-12-16TM
Nikkei…15,210 is our near term upside tgt. Two consecutive days closing over this level will lead to a test of 16,300. TM..(Toyota)…there are resting buy stops over 128.33-50. This should lead to a test of 134.30. This is a surrogate … Continue reading
CAT…is attempting an ORH day. As long as this holds 82 on the breaks we’re looking for a test of 84.75 and then 86.30. GOOG…breaks out on the weekly charts with a close above 803. The risk on any long … Continue reading
Raise your trailing stop on 25% stake in the SSO to 74.82. This is a straight stop order and you should still sell another 25% stake when the Spu’s trade 1591 +- a couple. Don’t get greedy up here! GOOG has … Continue reading
EUR/JPY…there are resting but stops @ 126.07. 123.89 becomes the weekly hold level on any retrace. AUD/JPY…shows the same pattern with 99.44-60 being the key hold level. CAD/JPY…97.00 is resistance and the next closing hurdle for higher. GBP/JPY…do not fade … Continue reading
Nikkei…from the 2007 high to the 2009 low, this is up 50%. We caution investors to not buy strength until you see a couple of closes over 12700. Confirmation of another leg up is needed with sustained action over this … Continue reading
USD/JPY…point & Figure shows a double top ( Bottom in Futures) @ 94.40. Our downside tgt of 106.20 futures/ 94.16 USD/JPY has been reached. 105.32 Futures is the next level of interest. EUR/AUD…as long as this remains over 130.40 this … Continue reading