Weekly Trends & Signals: S&P 500, Gold, Crude Oil, EURUSD, KOSPI, RTSI

Gold and crude oil are still above their long term support. Short term trends are now mildly up in gold and crude with hints that bottoms may be formed here. As of now, neither short term, nor long term up trend is confirmed in any of these two. S&P 500 is approaching close to its long term target and will soon face itself in between a rock and a hard place.

This weekly Trend Analysis & Signals table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.

Abbreviations used -

• PCP = Previous closing price
• S2 = Second support, S1 = First support
• R1 = First resistance, R2 = Second resistance

Weekly Trends & Signals: S&P 500, Gold, Crude Oil, EURUSD, KOSPI, RTSI

Gold, crude oil may breach their long term support and EURUSD has already broken it. Trends are down in all three and even a long term downtrend may be expected. Gold and crude are both trending down which is a risky situation to trade as there may not be any short term cyclic patterns where a positional swing trader may identify peaks or troughs.

This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.

Abbreviations used -

• PCP = Previous closing price
• S2 = Second support, S1 = First support
• R1 = First resistance, R2 = Second resistance

EURUSD, Gold, Crude

Exit all 3 longs. Gold 1160, crude 49.65, EURUSD 1.0756 

RTSI

Exit long near CMP 880

Weekly Trends & Signals: S&P 500, Gold, Crude Oil, EURUSD, KOSPI, RTSI

Gold, crude oil, and EURUSD are still above their long term support with indications of bottom formation. The current levels are crucial and if a bounce does not take place at these levels, then a long term downtrend may be expected, though we are still holding positions.

This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.

Abbreviations used -

• PCP = Previous closing price
• S2 = Second support, S1 = First support
• R1 = First resistance, R2 = Second resistance

KOSPI

Exit KOSPI long near CMP 1999. Buy signal was generated on 16 Feb at 1958.

S&P 500: Sunday, Mar 1, 2015

Exit signal is generated in S&P 500. Exit near previous closing price of 2105. Buy entry was taken on Feb 2 near 1990. 

Weekly Trends & Signals: S&P 500, Gold, Crude Oil, EURUSD, KOSPI, RTSI

Gold, crude oil, and EURUSD are still above their long term support with indications of bottom formation. Russian RTSI is expected to move up in tandem with crude oil. KOSPI has moved up but caution is advised. S&P 500 has broken a crucial support at top and up trend looks exhausted.

This weekly Trend Analysis table uses a proprietary algorithm to identify trend direction, strength of trend, & entry/exit signals. It also indicates key support/ resistance levels based on traditional technical analysis.

GOLD	PCP	1213.10	ACTION	Hold long	S2	1150
	TREND	Down	STRENGTH	Low	S1	1200
	POSITION	Near swing bottom			R1	1220
	REMARK	May consolidate between 1150 - 1300. Its short term downtrend is weakening. Investors may accumulate on dips.			R2	1240
CRUDE	PCP	49.76	ACTION	Hold long	S2	44
	TREND	Up	STRENGTH	Low	S1	47
	POSITION	Long duration charts are indicating a bottom			R1	52
	REMARK	Long term trend is still down though it is weakening. Crude is in short term uptrend and if it sustains above 57 then a major uptrend may be considered. Avoid positional shorts.			R2	57
S&P500	PCP	2104.5	ACTION	Exit long	S2	2065
	TREND	Up	STRENGTH	Low	S1	2090
	POSITION	Approaching cycle top			R1	2115
	REMARK	Up trend weakness is indicated			R2	2145
KOSPI	PCP	1985.80	ACTION	Hold long	S2	1963
	TREND	Up	STRENGTH	Low	S1	1980
	POSITION	Near short term top, long term bottom			R1	1995
	REMARK	Long term downtrend is weakening and last month's low of 1876 may be bottom for this swing.			R2	2010
RTSI	PCP	896.63	ACTION	Hold long	S2	830
	TREND	Up	STRENGTH	Medium	S2	893
	POSITION	Near long term bottom, rising in short term			R1	1000
	REMARK	Long term down trend is approaching a bottom. Trend is up in short term. Avoid shorts.			R2	1100
EURUSD	PCP	1.1194	ACTION	Hold long	S2	1.100
	TREND	Down trending	STRENGTH	Low	S1	1.110
	POSITION	Near long term bottom			R1	1.145
	REMARK	Long term trend is down. An uptrend may form as 1.12 is a multi years support. Traders avoid heavy short positions.			R2	1.167

Abbreviations used -

• PCP = Previous closing price
• S2 = Second support, S1 = First support
• R1 = First resistance, R2 = Second resistance