Weekly Update
Weekly Update
Overview
In the overview the following assets/regions are represented from left to right:
Dollar Index , S&P 500 (USA), DAX (DE), Hangseng (China), Gold , BTC .
The charts are presented as a weekly chart, thus the last candle visible presents the last week.
The dollar has further collapsed and thus the indices had further air to the top. Nevertheless, we could already see weakness in the uptrend in the S&P 500 and the DAX.
The DAX was able to close the last 3 weeks positive, but the upward movements were rather already sideways movements than clear breakouts to the top. The SPX could still record stronger uptrends, but these are also already losing strength.
Gold could also again benefit strongly from the falling dollar. The BTC could rise slightly, but currently it did not record any meaningful movement.
Dollar Index
For now, the Dollar Index looks like it will target the orange area next, so it is still falling. Once we reach the orange area, the dollar should recover.
S&P 500
If the dollar now still tests the orange area, the indices will also be able to rise again or we rather expect sideways movements or a final breakout to the upside. After that, if the dollar at the orange area should form a bottom or at least see a recovery, the indices will probably slip again, whether we then see a complete crash, or only a smaller correction of the indices is not yet assessable. Due to the weakness of the indices, we assume at least a clear correction.
DAX
The DAX looks similar to the SPX , except that already the last few weeks no real upward trend could be seen. Here we assume that, except for a small last pump, we will see a clear downward trend in the coming weeks.
Economic Indicators
The economic data is neutral for now.
Results of economic indicators are relevant this week:
Monday: Retail Sales (DE), Factory Orders (USA)
Tuesday: Factory Orders (DE)
Wednesday: GDP Growth (EU)
Friday: Inflation Rate (China), PPI (China), PPI (USA),
Forecast
We now expect another correction, so we keep our feet still and wait for attractive entry prices.
We will keep you informed!
We wish you a nice Sunday and a successful week!
Overview
In the overview the following assets/regions are represented from left to right:
Dollar Index , S&P 500 (USA), DAX (DE), Hangseng (China), Gold , BTC .
The charts are presented as a weekly chart, thus the last candle visible presents the last week.
The dollar has further collapsed and thus the indices had further air to the top. Nevertheless, we could already see weakness in the uptrend in the S&P 500 and the DAX.
The DAX was able to close the last 3 weeks positive, but the upward movements were rather already sideways movements than clear breakouts to the top. The SPX could still record stronger uptrends, but these are also already losing strength.
Gold could also again benefit strongly from the falling dollar. The BTC could rise slightly, but currently it did not record any meaningful movement.
Dollar Index
For now, the Dollar Index looks like it will target the orange area next, so it is still falling. Once we reach the orange area, the dollar should recover.
S&P 500
If the dollar now still tests the orange area, the indices will also be able to rise again or we rather expect sideways movements or a final breakout to the upside. After that, if the dollar at the orange area should form a bottom or at least see a recovery, the indices will probably slip again, whether we then see a complete crash, or only a smaller correction of the indices is not yet assessable. Due to the weakness of the indices, we assume at least a clear correction.
DAX
The DAX looks similar to the SPX , except that already the last few weeks no real upward trend could be seen. Here we assume that, except for a small last pump, we will see a clear downward trend in the coming weeks.
Economic Indicators
The economic data is neutral for now.
Results of economic indicators are relevant this week:
Monday: Retail Sales (DE), Factory Orders (USA)
Tuesday: Factory Orders (DE)
Wednesday: GDP Growth (EU)
Friday: Inflation Rate (China), PPI (China), PPI (USA),
Forecast
We now expect another correction, so we keep our feet still and wait for attractive entry prices.
We will keep you informed!
We wish you a nice Sunday and a successful week!
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