Simple Trade Setups, Simple Trading, State of The Markets, TrInvesting™

TAOST TrInvesting Wrap Wk Ended 14 August 2015

BBH — In what is clearly a strong uptrend, the biotech etf is comfortably above support all the way down at $123.70.  Watch for a break up through $142.80 for a suggestion that we’ll be breaking out of this congestion.

BBH Wk Ending 14 August 2015


SPX — The closely watched SPX is right in the middle of a price range extending back to February.  It looks like it’s ready to challenge (and defeat) the top of the range, but, as always anything can happen.  Watch for a break of last week’s high at 2106 as an indication that price can get going out of this range finally.

SPX Wk Ending 14 August 2015


DJIA — Like the SPY, the Dow Jones Industrial Average has an important price range that stretches back to February of this year.  Price closed just below that range last week, but still looks fairly positive.  Watch 17,630 and 17,125 for clues about its near term direction this week.

DJIA Wk Ending 14 Aug 2015


MDY — The midcap index is poised for it’s next move… Look for a break up through the $275 to $276 range this week for confirmation of this idea..

MDY Wk Closing 14 Aug 2015


TNX-X — Watch this index for clues about the direction of interest rates.  Watch for a break below $20.80 as an indicator that stock prices might head higher.

TNX-X Wk Ending 14 Aug 2015


EUR/USD — Price remains mired in the middle of a big area of congestion.  That said, the structure is looking more like an enormous Bear Flag each week which means it’s likely to resolve to the downside… If price can get below $1.08, price may be on its way back to the lows.

EUR Wk Ending 14 Aug 2015


QQQ — The tech sector has held up surprisingly well in the face of ongoing stock market pressure.  It is the only major equity index with prices clustered around the top of the recent price range. Watch for a clearance of $113 this week before thinking of getting long.

QQQ Wk Ending 14 Aug 2015


GLD — Gold remains structured to the downside… bounces notwithstanding.  We’d have to get up above the $120 area before The Trader would even consider a long in the Yellow stuff… Watch $109.90 this week for hints of real relief rally.

GLD Wk Ending 14 Aug 2015


USO — Oil prices continue lower to the chagrin of oil companies… and delight of car-driving consumers.  Keep your eye on last week’s high around $15 for a suggestion that the decline is over.

USO Wk Ending 14 Aug 2015



FXI — China is top of mind because of the Yuan devaluation that shook global markets on Tuesday.  Watch for a break down through $38.85 for signs of trouble this week.

FXI Wk Ending 14 Aug 2015


Tell your peeps...

Leave a Reply