Watch David Hickson’s Trading Summary Video.
The markets were very volatile in overnight trading. It is time to trade carefully, and make certain that our analysis is as good as it can be.
- S&P 500: Price is at a critical juncture and must reveal the true analysis situation soon. Either we are now in an F-category interaction, or there might be a further burst up in a C-category long trading opportunity.
- NASDAQ: The analysis that we have been tracking in the Nasdaq didn’t manifest a C-category long trading opportunity last week. I discuss how the analysis we have been tracking in the S&P 500 is now making sense in the Nasdaq … indicating that we are in an F-category interaction. The trading opportunity would have come over the weekend, but there will other opportunities!
- EURUSD: The Euro didn’t give us the H-category trading opportunity last week, and out next opportunity is a long trade – either an A-category trade as price bounces out of the 40-week cycle trough, or an E-category trade if the trough is of only 40-day magnitude.
- GBPUSD: The British Pound is forming, or about to form the 18-month cycle trough. When such big cycles are at work we have to careful not to jump in prematurely. In the video I discuss how to approach this situation.
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