Share

If you are having difficulty seeing this email, you can view in your browser or click here to print.
04/19/2024
Thomas Thornton
info@hedgefundtelemetry.com

Around the world in 15 minutes


Here's a quick look at some global indexes with brief comments.  (15 minute max reading) Included are US, Europe, Asia, Australia, India, Mexico, and Brazil.  At the end there are two Bitcoin charts.  Going to be an important week to see if the recent bounces hold up.  
 
US Markets



Here's a close up daily chart of the S&P Futures with some potential trend line breaks on both the upside and downside.  If this starts to break down the wave 3 downside price objective of 2419 is a real possibility.  As a reminder, my call has been a lower high bounce will run out of steam.
 


The shorter term 30 minute chart of the S&P Futures has a cluster of upside exhaustion signals and did achieve 5 shorter term waves up thus a failure from here seems probable now
 


Nasdaq 100 Futures daily also has some trend line action to watch.  It moved a lot higher than the SPX over the 50 day and a move there seems likely.  
 
European Markets


German DAX stalled today.  It opened up and closed on the lows.  There still is a downside red Countdown on day 3 of 13 with important support at 12,050 TDST green line
 


Spain Ibex same story as DAX closing on dead lows today with a downside red Countdown on day 2 of 13.  
 


UK FTSE ditto as the others.  Breaking 7,200 would be concerning
 


France CAC 40 had a failed downside exhaustion in a sideways consolidation.  The bounce off the recent downside green Setup 9 worked well but again the close on the lows today is concerning
 
Italy FTSE MIB Index has red Countdown on day 5 of 13 with very clear support at 21,900.  Bearish engulfing day too
 
Asian, Indian, Australian Markets


Nikkei had a good upside exhaustion and bounced with the green Setup 9.  Nikkei futures are down ahead of the open but I will be watching if they close lower than the last bar.
 


Hong Kong Hang Seng bounced off the green TDST dotted line as support combined with the green Setup 9.  This has been so strong in the past year, I'd say it's the one index I want to watch for risk appetite.

 


Shanghai Composite Index has seen a steep move lower and has a red Countdown on day 3 of 13.  And it's 5% below the 50 day moving average now.  
 


Taiwan Index has seen several gaps lower and isn't too far from support from September and December levels.  
 
Korean Kospi has good support at the TDST green dotted line 2340 and bounced with the downside green Setup 9.  Like some of the others, this support line is critical
 
India Nifty Index had a good upside exhaustion and it made a 3 month closing low today.  It's on day 2 of 13 therefore, it's quite possible this continues lower and the smooth upside trade in the past year is now a real challenge
 
Australia ASX 200 daily also has bounced after a large gap lower.  5 months of upside resistance is above.  
 
Australia weekly still looks constructive yet if 54 breaks and more important 52.14 gives up, then this upward trend will look like 2015.  
 
Mexico and Brazil


Brazil EWZ ETF had a nice upside exhaustion followed by a pullback to the 50 day that also had a downside green 9 Setup.  Not shown but the darker charts I also use with the waves shows a downside wave 3 target of 39.17 IF this can't make a new high.  
 


Mexican Bolsa also had a nice upside exhaustion in January followed by a move lower ending with a downside green Setup 9 at the TDST green dotted line at 47,000.  Breaking that 47,000 and another 10% lower is possible.  
 
 
Bitcoin Update


Bitcoin daily had a perfect upside exhaustion signal at the highs, achieved the downside wave 3 price objective and now has a downside wave 5 price objective of 1135.  A break below 10,000 again could give us some evidence this topped short term.  Starting to hear a lot of the Bitcoin bulls come back out from the fetal position in the last couple months.  
 


Bitcoin short term 30 min time frame has a recent cluster of upside exhaustion signals

 



Unsubscribe me from Hedge Fund Telemetry

Hedge Fund Telemetry LLC, P.O. Box 4675, Greenwich, CT 06861, United States

CONFIDENTIALITY NOTE and DISCLAIMER: This message is for the named person's use only. It may contain confidential, proprietary or legally privileged material. No confidentiality or privilege is waived by any accidental or unintentional transmission. If you receive this message in error, please immediately delete it and all copies of it from your system, destroy any hard copies and notify the sender. You must not, directly or indirectly, use, disclose, distribute, print or copy any part of this message if you are not the intended recipient. Hedge Fund Telemetry LLC. cannot guarantee the confidentiality of the material transmitted; therefore, information of a sensitive or confidential nature should not be transmitted. There is risk in trading markets.  Hedge Fund Telemetry LLC reports are based on information gathered from various sources and believed to be reliable, but are not guaranteed as to accuracy and completeness.  The information is subject to change without notice and Hedge Fund Telemetry LLC has no obligation to provide any updates or changes. Hedge Fund Telemetry LLC is providing this data for informational and educational purposes and does not believe that it is sufficient to base an investment decision on. This information should not be regarded as a solicitation or recommendation of any particular security or to engage in any trading strategy. One should always check with your licensed financial advisor to determine suitability of any investments.

 


Email Marketing by ActiveCampaign