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Trading Log: Weekly Strategy

Long Term Weekly Trend:

USD

From the weekly charts it seems that stochastic is oversold. any move above this region and we might have a revival in USD trends.

SPY

The recent down trend have mad investors cautious, but stochastic is still at overbought region. it could remain overbought for some time, but at this juncture we could be in for a correction that would take us to the 26 week or 50 week ema.

EEM

Ditto for emerging markets although we could have a breakthrough in a long term formation where the 26 week and 50 week moving average cuts from below.

Long term trend looks up.

Intermediate Trend:

STI ETF is hovering around the 2.60 region which is on the 22 day moving average. My feel is that stochastic is not low enough to warrant any entries so a retest of the 50day ma could be on the cards.

This would be the kind of correction bulls are looking for to add on based on intermediate trend.

SPY

The spy seem to hit a plateau. Stochastic and MACD looks to be heading down. The decision here will be whether MACD histogram stage a rebound and not head down, which i believe might be the likely scenario in this strong uptrend.

In that case look to start some intermediate position. However should it correct, which it likely will we could be looking at high 97 region (2% down) or 95 region (4%) down.

EEM

EEM is interesting5 in that stochastic is already falling. If consolidation continues to take place we should see it test the $33.5 region (5.7% down) that would be a good entry point for anyone wanting to get into this bull market rally.

Summary: consolidation taking place in general equities.

Gary Shilling's Six Causes of slow long term growth going forward.
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