A Prospective Prognostication of Projected Price Action

[Will Duxon]

MAJOR WORLD INDICES:

I don't currently see much trending (4-hour chart-wise) in the major U.S. Indices, so I would be inclined to buy NAS100 under 4847 and sell it over 4889. On the daily chart, the sell zone is just a bit higher at 4902, but buy territory is significantly lower at 4788.

In terms of the S&P, I'd buy SPX500 under 2147 and sell it over 2167. My daily charts tell me to look to go long under 2131 and short over 21.80.

As for the Dow, I'd buy US30 under 18162 and sell it over 18326. The daily chart buy zone is under 18015, and the sell zone over 18442.

The FTSE100 seems to be in consolidation as well, so I’d be inclined to buy it at around 7000 and sell it near 7075. However, it is trending north on my daily charts, and is a 'buy" below the 6785 level.

I would look to sell JPN225 as it appears to be in a downtrend—having rendered initial support meaningless—with the next significant level of statistical support on the 4-hour chart somewhere around 16712. However, on my daily charts the index is range bound and looks like it could easily fall to 16605, and then continue south to around 16348 before turning north again.

 

[Will Duxon]

A nice little plate of buy-low-sell-high



According to my charts the major U.S. indices look to be serving up a nice little plate of opportunity this morning. At least in terms of what is suggested by historical data, at the levels they find themselves this morning, ETFs such as TQQQ, QLD, UDOW, SPLX, UPRO, SSO, CURE, TNA, FAS and whatnot (not to mention index Futures) might just experience a nice little gain over the next 24 to 72 hours.