Equities Show Promise

(This is an excerpt from the past weekend premium member report published last Friday morning the 6th)

Global Equity Markets

The S&P cumulative A/D line has posted a new high. The major indexes (DJIA, S&P 500 and NASDAQ) should be next to post ATHs.

S&P 500 (CME)

I bought the completion of a rectangle on Thursday – and did so with hesitation knowing how frustrated I have been buying strength (over and over and over again) during 2019. The possible inverted H&S pattern has an up-slanted neckline.

China A50 (SGX)

The monthly chart exhibits a possible 4-year ascending triangle. The daily chart is attempting to complete a continuation symmetrical triangle. Factor is long – note the small 2-week pennant on the daily graph (boxed). I have an interest in pyramiding this trade. A close above 13995 is needed to confirm the daily chart triangle.

DAX (Eurex)

The advance on Aug 30 completed a small, but well-defined, inverted H&S bottom. Factor is long. The Sep 3 low is my pivot for protection. I will look to jam stops if the market approaches the 12462 target.

DJIA (CBOT)

I view the weekly chart as a 17-month inverted H&S with a premature breakout in Jul.

TSM (NYSE)

Two weekly charts are shown to display the massive 17-month inverted continuation H&S pattern. The total- return chart is on the right. The prices on this chart include previous dividend payments. The chart on the left is ex-dividend (prices have been reduced by previous dividends). Factor is flat. I will buy a breakout.

Factor Membership

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Peter Brandt is a 40+ year veteran of trading. Through his Factor Service, members receive:

Trading Commodity Futures with Classical Chart Patterns: A free PDF copy of Peter’s classic out-of-print book

Weekend Update: 10-16 pages full of in-depth chart analysis and charting commentary

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Market Commentaries: Communications on specific topics regarding market speculation and trading distributed periodically

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View your Factor Member options here. You could consider your membership in the Factor Service as just one more trade. If the Factor Service is not of value to you, well, it is just one more trade that did not work.

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I hope you will consider joining the Factor community.

 

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