📊 Weekly Outlook Charts Aug 12-19:
#DXY hasnt moved much and is still in a corrective phase before more downside (likely if softening economic data continues).
Target of 97 remains
#SPY is still showing signs of a corrective phase - which is not a bad thing. We had a retest of 200 D MA last week. But a continuation of the correction can bring us to 4800. Labor market and CPI data will play a big factor on whether 200 D MA is broken or not.
https://www.tradingview.co.../
#USOIL still bearish and in a long corrective phase. Weakening labor market data paired with production cuts will continue to lower oil demand globally. Targets remain the same at $61
https://www.tradingview.co.../
Is #btc out of the woodwork yet? Not quite
Last week I posted my macro view on BTC. Lots of data showed evidence of a strong Q4 for BTC. However, we are still only mid Q3. Its quite early and seasonally speaking, there is usually rotation from large caps into smaller caps in August before an abrupt sell off in September. With lots of uncertainty looming about FED rates, elections etc. I think its too soon to suggest we go up only from here on BTC.
On shorter time frames, the corrective phase we entered in spring should be coming to a close. However, is 50k the end of the 'C' wave impulse? Could be anyone's guess. Preferably,I'd like to see bullish divergence before we march higher
https://www.tradingview.co.../
#eth chart looks quite awful. I'd avoid until we have weekly closes back above resistance.
https://www.tradingview.co.../
#DXY hasnt moved much and is still in a corrective phase before more downside (likely if softening economic data continues).
Target of 97 remains
#SPY is still showing signs of a corrective phase - which is not a bad thing. We had a retest of 200 D MA last week. But a continuation of the correction can bring us to 4800. Labor market and CPI data will play a big factor on whether 200 D MA is broken or not.
https://www.tradingview.co.../
#USOIL still bearish and in a long corrective phase. Weakening labor market data paired with production cuts will continue to lower oil demand globally. Targets remain the same at $61
https://www.tradingview.co.../
Is #btc out of the woodwork yet? Not quite
Last week I posted my macro view on BTC. Lots of data showed evidence of a strong Q4 for BTC. However, we are still only mid Q3. Its quite early and seasonally speaking, there is usually rotation from large caps into smaller caps in August before an abrupt sell off in September. With lots of uncertainty looming about FED rates, elections etc. I think its too soon to suggest we go up only from here on BTC.
On shorter time frames, the corrective phase we entered in spring should be coming to a close. However, is 50k the end of the 'C' wave impulse? Could be anyone's guess. Preferably,I'd like to see bullish divergence before we march higher
https://www.tradingview.co.../
#eth chart looks quite awful. I'd avoid until we have weekly closes back above resistance.
https://www.tradingview.co.../
Weekly Outlook SPY Aug12-19 for OANDA:SPX500USD by SolenyaResearch — TradingView
SPY is still showing signs of a corrective phase - which is not a bad thing. We had a retest of 200 D MA last week. But a continuation of the correction can bring us to 4800. Labor market and CPI data will play a big factor on whether 200 D MA is broken or not.
https://www.tradingview.com/chart/SPX500USD/kZFDOGmc-Weekly-Outlook-SPY-Aug12-19/
4 months ago
