SPX reached the SMA100 yesterday, less than six points from our target of 2033.88 — but, couldn’t quite punch through. The target remains unchanged from Mar 4.
We’re watching to see whether or not the overnight ramp job can hold, with futures currently up about 7.50. USDJPY is being rather coy — bouncing off the easy initial red TL support after reaching our first downside target: the white channel midline. Had it happened during trading hours, SPX would have bagged 2033 by now. We’re still looking for 120.11.And, CL — which reached our 47.66 target yesterday — is back in the rising purple channel (for now.) If it’s going to break down and tag our 45.86 target, today really is the day.
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