Trading with point and figure

Before the Open (Jun 26)
by admin on June 26, 2017
in Before the Open
1 Comment
Good morning. Happy Monday. Hope you had a good weekend.
The Asian/Pacific markets closed mostly up. China, Hong Kong, South Korea, New Zealand and Taiwan led the way; India and the Philippines lagged. Europe is currently mostly up. The UK, Poland, France, Germany, Italy, Spain, Switzerland, the Netherlands, Belgium and Austria are posting solid gains. Futures in the States point towards a moderate gap up open for the cash market.
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VIDEO: There’s a Bull Market Somewhere
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The dollar is up a small amount. Oil and copper are up small amounts. Gold and silver are down. Bonds are mixed.
The two most encouraging charts heading into this new week are the Russell 2000 and S&P 400. Both traded above and below their 50-day MAs for several months, but recently they moved above and successfully tested the moving averages. This is a great first step in beginning the next directional move.


From Jason Leavitt
 
50MA from Jason Leavitt
too clumsy...and we dont rely on calculated lines
IWM/Russ2K etf turned a tad negative on Friday
RUSS 2K futs in mega rez before the open
 
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