[Create Your Own Opinion – Technical Indicators Used – MACD, MACD Histogram, Bollinger Bands, Candlestick Patterns, Elliott Wave Counts, Cycle Brackets, Volume, Channel Support and Channel Resistance, Support and Resistance Levels.]
Another week goes by - one earnings confession. Only a few hundred to go. Technically this week is a strong reversal sign which push us much lower next week. The MACD continues to fade. USD strength will hurt revenue and earnings for Q1. The stronger USD will also hammer guidance. Markets have largely ignored the economic mess the world is experiencing largely due to central banks coordinating the bidding of bonds and equities higher. The stronger USD should continue to drive deflation (not inflation) and drive world GDP into negative territory soon. Currently, we are at 0.2% for Q1 GDP down from an initial of 2.5%.