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The Periodical: 14th January 2022
An overview of the periodic action across our portfolio this week
Chart of the Week
A fairly quiet week on the markets from our point of view with most instruments moving largely as expected and previously reported. Stockmarkets have likely put in their 40 day nominal lows and we await more downside into what is at least a 20 week low early February. The FTSE is, suprisingly, the most bullish of the three indices we cover but has the 54 month FLD resistance, above price, about to exert pressure. Unlike the SPX and DJIA, the 20 day FLD in the FTSE was only briefly crossed (for the move to the 40 day nominal low) but reported targets are maintained for the 20 week low which is incoming in February.
Good moves in Forex this week, most notably in the dollar. USDJPY achieved the target of 113.8 today and now sits at the 20 week FLD. The Dollar Index has likely rolled over it’s 18 month nominal peak, interim target of 94 almost achieved. USDCAD revealed some analysis uncertainties which are likely to be resolved at the next 40 day component low, that is a fascinating one. EURGBP is starting to look very overdue the 20 week nominal low and has crossed the 10 day FLD. AUDNZD has held up thus far prior to it’s move to the 20 week low, expected in the next couple of weeks - update on that will be crucial as it should be a very bullish opportunity when it arrives.
In the Energy market Natural Gas exploded upward this week subsequent to the 18 month low being formed at the 18 month FLD in mid December. Oil continues to dictate stockmarkets somewhat, with commonality in phasing at the frequency components. The phasing here anticipates a 80 day low (at least) in early February, read the latest here.
Cryptocurrency meekly began to form it’s 40 day nominal low, with the various coins across the market reacting with varying amplitude. Litecoin was the first to hit target of around 140. It is interesting to note that crypto is largely sharing the same phasing analysis (up to the 40 week component, at least) as the oil and equity markets…
Finally the Precious Metals markets are relatively quiet, moving as they are from 20 week nominal lows made in December. At this juncture Gold is more bullish looking than Silver, with a slightly higher amplitude of the 20 week component over several iterations. The Uranium market is looking to move from it’s 20 week low, although our featured ETF URA is somewhat struggling at the 80 day FLD at this point. Other participants, including Uranium miner Yellowcake (below), display excellent periodic components.