Daily Trend Research - January 18, 2019

Download the entire Daily Trend Research: DTR_18012019.pdf

Heikin-Ashi

Here we continue the discussion of today's webinar "Heikin-Ashi". Feel free to ask any questions here for expert and presenter Klaus Ikast, or other of your fellow participants, provide your own tips, or other. The discussion is open for everyone also non-participants. Webinar description: Heikin-Ashi candlesticks are derived from Japanese candlesticks. Heikin-Ashi Candlesticks combines the open-close data from the prior period and the ...

Ichimoku Clouds

Here we continue the discussion of today's webinar "Ichimoku Clouds". Feel free to ask any questions here for expert and presenter Klaus Ikast, or other of your fellow participants, provide your own tips, or other. The discussion is open for everyone also non-participants. Webinar description: The Ichimoku Clouds, also known as Ichimoku Kinko Hyo, is a popular indicator that define support and resistance, identifies trends, momentum and...

EURO STOXX 50 (3056) - ST bullish sentiment until Jan 18-21 - Target 3090-3115 - Stop on a daily close below 2930

EURO STOXX 50 (3056) – ST bullish sentiment until January 18-21 - Target 3090-3115 - Bearish trend resumes on a daily close below 2930 giving at target at 2730.

Danish Stocks: Risk of a 20% drop during 2019

Danish OMXC20 Index: Despite ending 2018 with a total loss of nearly 13%, the overall outlook for the Danish stock index is still bearish. After breaking the uptrend since August 2011 (in September 2018), the index fell approx. 10%. Next support is around 825, then 810 and thereafter 703-720. The general warning against stocks from late 2017 is unchanged. If you are still in stocks, then keep a close eye on S&P 500, where a weekly close below...

S&P 500 broke as expected below 2,610 and is now testing first target and support around 2,350

S&P 500 broke as expected below support around 2,610-15, which was followed by a sharp decline towards first target and support around 2,350. Since the 2,350 area represents the uptrend from February 2009, buyers may show up around this level. Stay short, though don't establish new short positions at current levels. Sell around 2,500 or in case of a close below 2,320. Target 2,030.

Gold (1273) - LT Bullish - LT Target 1570 - Resistance 1365 & 1465 - ST Stop on a daily close below 1220

Gold (1273) - LT Bullish - LT Target 1570 - Resistance 1365 & 1465 - ST Stop on a daily close below 1220

EUR/USD - Important Tip: Closed in New York with a gap to London Low at 1.1382

EUR/USD (London Close) is trading in a narrow range between 1.1310 and 1.1455, without any clear short-term direction. The rejection at strong resistance around 1.1455 was followed by a test of support around 1.1355-60. Since New York closed with a small gap to Fridays London Low at 1.1382, I will expect the market to move higher and close the gap during early Asian or European trading, when trading starts again. Sit short-term on your hands...

DSV testing support around 455, where short-term buyers may show up

The stock is currently testing important support around 455, where short-term buyers are expected. Look for a correction towards 480-500 where sellers again will appear. On the down-side a break below 450 will signal further drop towards the 380 area. Since global stock markets looks weak and may drop another 20% from current levels, I stick to my negative view and recommend to sit on your hands.

Trading in Excel & NetStation

Here we continue the discussion of today's webinar "Trading in Excel & NetStation". Feel free to ask any questions here for expert and presenter Klaus Ikast, or other of your fellow participants, provide your own tips, or other. The discussion is open for everyone also non-participants. Webinar description: Every successful analyst and trader in the world uses Excel. NetDania provides the ability to bring historical and real-time ma...

JPMorgan Chase: Further downside ahead

JPMorgan Chase broke Friday below the neckline and last line of support around 103.25. The stock has now completed a double top, signalling further drop towards 1st. target at 88. Sell on strength towards 103. Above 108.50 will abort the negative outlook.

Dow Jones forming a major top

Dow Jones is currently testing important support around 24,185, where a close below will be followed by a test of the possible neckline at 23,900 and last line of support around 23,240. A close below the latter leads to a drop of min. 7-10%. The outlook is negative, why I continue to stick to my general warning against US stocks from late 2017.

Apple: Negative outlook

The stock looks weak and is likely to move sideways to lower over the coming months. Only a rise above 195 will abort the negative outlook. I am expecting a 7-10% drop. Next support is around 162 and then 155.  

EURUSD: No clear intraday direction

Continues to move sideways without showing any clear short-term direction. The overall trend is down, where a break of 1.1320 will lead to next support at 1.1265-70 and 1.1215. Above 1.1365 will be followed by a test of resistance around 1.1400 and probably also 1.1440.

Bitcoin: Whats Next !

The break below 5,500 lead to the expected drop to next support around 3,250. The sell-off was massive and fast, which is confirmed by a historically oversold RSI. The speed of the drop reflects a market which basically lost its faith in Bitcoin. Did we see the bottom yet?. Probably not, though with a historically oversold condition, it's not the right time to establish new short positions. Sit on your hands and wait for a correction, preferably ...