WELCOME

Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...
please read my full Disclaimer at this link.

Dots

...If the dots don't connect, gather more dots until they do...

Winter City

Winter City

Events

UPCOMING (MAJOR) ECONOMIC EVENTS...
* Wed. Nov. 22 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. Nov. 23 ~ U.S. Markets closed for Thanksgiving holiday
* Fri. Nov. 24 @ 1:00 pm ET ~ U.S. Markets close early
* Wed. Nov. 29 @ 2:00 pm ET ~ Beige Book Report
* Fri. Dec. 8 @ 8:30 am ET ~ Employment Data
* Tues. Dec. 12 ~ 2-day FOMC Meeting Begins
* Wed. Dec. 13 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts + @ 2:30 pm ET ~ Fed Chair Press Conference
* Mon. Dec. 25 ~ U.S. Markets closed for Christmas holiday
*** Click here for link to Economic Calendars for all upcoming events

Saturday, August 20, 2011

How the EEM and NKD closed out the week...

My post on Thursday provided information on the EEM and the NKD...the following is simply a follow-up to that post.

Each candle on the chart below of the EEM (Emerging Markets Index) represents 3 days...the current candle closed on Friday. It has broken and closed below the neckline of the former H&S pattern (41.66) and engulfs the prior two candles after a backtest of the -2 deviation level of the uptrending regression channel that it broke through on the "gap breakaway" candle that began on August 4. This candle pattern is indicative of a continuation to the downside.


Below is a Daily chart of the NKD (Nikkei 225 Futures Index). Friday's candle closed below the downtrend line from the "pink diamond" pattern that I described in Thursday's two posts. Should the NKD continue down, the next support level is around 8200.


The last chart below is a 3-day chart of the NKD...it shows more clearly the potential for a continuation to the downside.


The downward momentum is still accelerating on both the EEM and the NKD...will see how next week plays out.