A Look at this Week’s Markets

//A Look at this Week’s Markets

Hawk’s Scan Sentry Report February 4, 2013

Welcome back to “Hawk’s Scan Sentry Report”. Last week’s EURAUD trade has been working out as planned hitting our first target in short order, crude oil futures are still climbing as predicted, and gold is moving sideways in a bearish trend. Last week’s published stock pick didn’t work out very well and we are out of that trade at a small loss. Although we would like for all of our trades to be winners, that will never happen. Losing trades are an important part of this business; it’s how you manage them that counts!

Now, I offer you some ideas and analysis for this week’s trading.  On the examples below I explain my analysis for some of the most commonly traded symbols using some of the most highly regarded technical indicators available. These tools are used by both institutional and private traders across the globe and are built into many of today’s most popular trading platforms. However, if you are not familiar with these indicators please follow this link to a legend describing these tools.

The Charts and Analysis

Index Futures:

S&P  Futures

(This chart is still quite bullish. However the recent Trend Exhaustion 3 signal and the bearish divergence in Radar 2 Price Leader portend a pullback into the Triple Trender.) 

Equities Setups:

(Buy) ATI– Allegheny Technologies Corp.

(A down trendline and Bull Flag breakout. This could be an early trend entry. )

(Sell Short) HST- Host Hotels and Resorts Inc.

(Note the bearish Pivot Divergence at the same time as the bearish Trend Exhaustion 3 signal. Also note how the Trend Exhaustion ‘OB-1’ signal occurred at the beginning of the pivot divergence. This strengthens the bearish Pivot Divergence that occurred at the next peak. Bearish confirmation would be a close below the bullish long-term Trender and a pink bar or two in the Radar 3 Trend Strength indicator.  )

Commodities:

GOLD

(Although the Radar1 Fear/Greed shows weakening sell strength, there is still no buy signal here. At this point the path of least resistance appears to be bearish at least down to about $1640.)

CRUDE OIL

(This market continues to have bullish indications in all of the Radar tools and the Triple Trender. Still working our way to the Flag target at $100.16. )

Forex:

(Sell Short)-GBPUSD

( This GBPUSD looks like a nice short as it has broken below support @1.5826  with signifigant selling strength in Radar1 Fear/Greed. There is also a nice pullback into the Triple Trender. First target is 1.5602 as identified by our Support/Resistance lines.  )

May the trend be with you,

Hawk

Jan Arps’ Traders’ Toolbox is not an investment advisory service nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities customers should buy or sell for themselves. Examples presented on this site are for educational purposes only.  It should not be assumed that the methods, techniques, or indicators presented in these examples will be profitable or that they will not result in losses. There is a high degree of risk in trading.  Readers using this information are solely responsible for their actions and trade at their own risk. Readers should always check with their licensed financial advisor .

2018-01-08T07:05:13+00:00February 3rd, 2013|Hawk's Picks|