Week of Aug 20th, NK225 & S&P500

Click to enlarge:

S&P500: S&P is now in a bull trend, confirmed by both the weekly and monthly MACD Hist.
Next target is 1329 (Sep Futures) if it stays above 1298 this coming week. The interest rate hike fear is out of the way and investors are focusing on earnings picture which most of the S&P 500 companies are performing better than expected.

Nasdaq is not shown above, but seminconductor sector leads the Nadsdaq recovery. The strong rally last week may continue in the following weeks and provide more upside potential for the broadmarket.

Nikkei 225:
Nikkei is enjoing the bull trend since middle of June and looks likely to continue.

Big Picture: Long Term has changed (monthly)... Bullish....(The May low is now the higher low on the monthly chart.

Medium term: Weekly Bullish

Short term: Daily Bullish

Technicals: FTSE, SPX Nikkei, ASX, Weekly MACD Histogram (WMH) - still UP (bullish),

Trading ideas :(please apply your risk management rules in all trades)
Writing Options: Coffee (OTM Puts)
Futures: Short Lean Hog, Short Feeder Cattle
Options: SLB (long calls), SIRI (Long calls)