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

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Fall

Fall

Events

UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...
* Tues. Nov. 3 ~ U.S. Presidential Election
* Tues. Nov. 17 @ 8:30 am ET ~ Retail Sales Report & Core Retail Sales Report
* Wed. Nov. 25 @ 2:00 pm ET ~ FOMC Meeting Minutes
* Thurs. Nov. 26 ~ U.S. Markets closed for Thanksgiving Holiday
* Fri. Nov. 27 @ 1:00 pm ET ~ U.S. Markets closed for Thanksgiving Holiday/Black Friday
* Wed. Dec. 2 @ 2:00 pm ET ~ Beige Book Report
* Fri. Dec. 4 @ 8:30 am ET ~ Employment Data
* Thurs. Dec. 10 @ 8:30 am ET ~ MoM & YoY CPI & Core CPI Data
* Wed. Dec. 16 @ 2:00 pm ET ~ FOMC Announcement + FOMC Forecasts and @ 2:30 pm ET ~ Fed Chair Press Conference
* Thurs. Dec. 24 @ 1:00 pm ET ~ U.S. Markets closed for Christmas Holiday
* Fri. 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.