Kirkpatrick’s Weekly Market Strategist The technical stock market letter published weekly since 1976 MAY 25, 2018
Intermediate-Term Trend Table
Index Signal
BKX Dn BOND Dn UTY Up
Date
Sig Pr
Cur Pr
3/23 103.94 108.93 3/19 144 14/32 143 3/32 2/23 640 641
*Change from last week
long-term u.s. tREASURY bONDS The previous week the U.S. Treasury Bond future broke down through what used to be strong support, and this past week it broke upward through the old support/resistance level and the upper bound of the declining channel. It also broke about its ATR cover line. A positive crossover in the CMI will occur on Tuesday, giving us a confirmed buy signal. After all that back-andforth action in the bond market over the past three months, we really didn’t make much money timing the swings. It appears that the old buy signal in March is still valid. Comment: The position is now long
GOLD
The gold futures contract continues to behave similar to the bond market in that it also has traded in a strong downward channel and is presently flirting with the its upper bound. The bond market broke above that bound but gold has not. However, the DMI picture is almost identical to that of the bond market with a likely positive crossover to occur on Tuesday.
Conclusion: The position is flat.
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