This edition of TOTM’s newsletter gives an update on the bullish forecast for the Dollar as well as an update to the chart we sent last week for the natural gas ETF.
We are still looking for a durable low, but the summer price spike was unable to overcome the resistance levels we mentioned previously.
As an exclusive update for our newsletter readers, we wanted to highlight some trading opportunities in currencies that should manifest during the first 1-2 months of 2020.
As several of the major indices have begun trying to break upward out of their consolidation ranges, we wanted to give our newsletter readers a first look at our chart for the NYSE Composite Index.
The British Pound is signaling that the next phase of its decline may be more lengthy and “zig-zaggy” than originally expected. For the traders who follow our Elliott wave newsletter, that means there should be more opportunities for bearish and bullish trades during the next year.
Our message to newsletter readers in July was to watch for an inflection and possible reversal in two international ETFs. That plan appears to be working so far, and one of the funds might already have begun forming a bearish impulse.
As a reader of our free newsletter, we wanted to give you some fresh charts to show how well the Japanese Yen responded to the resistance we mentioned earlier. The levels worked well to produce a reversal trade.
This is a quick update for newsletter readers to show how the natural gas forecast is holding up. (Quick answer: it’s working well.)