Charts I’m Watching: Mar 31, 2015

The futures are off 8.25 just before the opening. The earlier sell-off reached 2062.25, but bounced off yesterday’s broken TL and channel bottom.

2015-03-31-ES daily 0615CL has contributed, with a drop to the .500 and 1998 trend line overnight.  It continues the pattern of big drops/ramp jobs overnight to reset the intra-day ramp jobs/drops.

Don’t be surprised if we get an intra-day bounce to the white .382 at 48.63 if this morning’s equity weakness accelerates at all.2015-03-31-CL v DX 60 0530And, EURUSD’s rising purple channel is a distant memory as the pair fell through and backtested the falling red channel midline.

2015-03-31-EURUSD 60 0707USDJPY, having enabled SPX to break trend yesterday, ran out of steam at the .618 as expected.  It should hang around current levels — at least until after the month/quarter end today.  2015-03-31-USDJPY daily 0639Our analog remains in force. For complete details and the forecast through July 2015, see yesterday’s wrap up: New Analog: Part II.  For more on analogs in general, CLICK HERE.

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