Market Talk – April 19, 2024
ASIA: The major Asian stock markets had a mixed day today: NIKKEI 225 decreased 1,011.35 points or -2.66% to 37,068.35 Shanghai decreased 8.96 points or -0.29% to 3,065.26 Hang [...]
Market Closings for Week of 04/04
Gold needs a closing ABOVE 1254.50 to signal a rally. A closing below 1225 would warn of a decline. Between these two numbers is still neutral.
In Silver we nee a daily closing above 1551 on a daily basis to signal a rally but a closing above 1531 today will keep silver in a neutral position. It will take a weekly closing back below 1483 to signal new lows ahead near-term.
The Dow shows a daily close below 17433 will signal a further decline whereas today our number will be 17421. Holding those numbers leave the Dow still neutral.
In crude, we need a Daily closing above 3985 to signal a rally ahead. A weekly closing below 3452 will signal back to the downside.
In the S&P500 Cash, a Daily closing below 203194 will signal a decline. Our weekly number for today will be 201720. Holding these levels keeps the market neutral for now.
In the Euro, we still see the 11695 level as the key area of resistance. Our Weekly Bullish still stands at 11450 and until that is elected, then there is no rally to the 11600 zone. Support is now 11135 and a weekly closing below that level will signal a retest of support ahead.
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