Weekly Seven Days Ahead Multi-Asset Technical Strategies 8th May 2018 new

This week's Multi-Asset Technical Strategies is attached.

Assets with strong signals in all times frames:
Dollar Sterling BEAR STERLING
FTSE BULL
Nikkei 225 BULL
Oil BULL

CURRENCIES:

So the Dollar is growing stronger: it depends on the currency pair as to how far it can go: Sterling remains very vulnerable. The Euro less so, with closer, more clearly-defined supports. Sterling has stayed within clear old parameters against the Euro. Dollar Yen is dull too.

STOCKS:

The US has a clear pattern of consolidation that looks as if it may be a continuation Triangle, but has yet to clarify. It needs to breakup soon to retain integrity. Other market are rallying hard but lack the clarity of the S&P. The EuroStoxx for instance looks sprightly and well-set to go further short-term but suffers from a long-term chart with multiple failures above the market. The FTSE looks very underpinned but needs to break into new territory to convince. Perhaps the Nikkei is best set with a clear bull reversal in place. But the overriding bull trigger for all these markets is the S&P. It needs to complete a bull triangle.

BONDS:

We are anxious about the very long-term breakdown of the TNotes. Have we declared the breakdown of the bull trend too soon? Certainly the bears are less clearly set in the weekly and daily charts. Cautious bears will wait for bear continuation ( medium term chart) and bear reversal (day chart) patterns to get all time frames congruent. The long-term charts remain bearish in other bond markets, but the short-term patterns in the Bund and the UK Gilts are all of a spirited rally. Timing is everything.

COMMODITIES:

Oil remain fiercely bullish. Gold is testing the lower boundary of a short-term trading range and otherwise, in other time-frames, lacks clarity.