Its Tuesday so time for the Swiss Tech team’s view and analysis.

They are pretty much where they have been for the last few weeks with added inter market weakness coming from the EM indexes and the DAX, lead cyclical indexes, note. Inside this auto weakness, chemical, finance and euro oil and gas divergence from the US oil and gas sector strength and breakout worthy of comment. Lead US indexes continue without a narrow tight upper trend hugging range. No clear evidence to suggest now is the time to short but this is a system issue of how you run your own book and risk, in my view.

Risks remain clear here and consistent with a weaker technical picture. No knock out price punch is showing here as yet so we are waiting for that before being more aggressive. In addition some more positive comments for gold bugs from the technical team. We are looking for capitulation once again on the bullion it seems.

Here the report:

Weekly19-02

Luck to all.

Rich

 

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