SB Trade Desk: Recent Analysis Examples

It’s been an interesting week.  The following are analysis examples from the past 5 days.  I’ve included some of the good and some of the bad…because there’s nothing that annoys me more than a charlatan promoting their good calls/trades and disregarding the bad.  If you like what you see and think that the information could help in your trading process, then consider joining the SB community (click here for more).

-Jamie Saettele

@JamieSaettele

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Worked

TLT 4 Hour 7/28

TLT spiked down to 130.51 on Thursday, just under the noted 61.8% retrace.  I’m viewing that drop as a small 2nd wave within the bullish impulse from the 7/12 low.  Focus is higher…now.

SPX Weekly 7/28

SPX sports a weekly RSI divergence reading too.  This is the 4th reading in the last 6 weeks.  High on Friday in the index was 3027.98…close enough to the line off of the 2018 highs for government work.  I’m bearish and will alert of any near term pattern/volume developments that suggest a top of sorts is in place.

USDJPY Daily 7/31

Literally nothing to add here…back to focusing on 109.20s for resistance.

Silver Daily 7/31

Silver is also respecting resistance.  Watch for support near 16.01 (38.2% of rally from 7/5) initially.

Didn’t Work

AUDUSD and NZDUSD Daily 7/29

AUDUSD and NZDUSD sport a subtle non-confirmation.  AUDUSD is below the 7/10 low but NZDUSD is not.  As long as this non-confirmation is in place, I’m expecting a reversal higher.  For AUDUSD, watch for support near .6876 (daily reversal support).

USDCNH 4 Hour 7/31

The USDCNH pattern provides reason to think that this USD move is a big screwjob.  5 waves down and 3 waves up into parallel resistance suggest downside potential.  This is important because USDCNH and DXY have tracked each other closely for the last 3 years.