Charts I’m Watching: Mar 12, 2015

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.

2015-03-12 SPX 60 0600We’re watching to see whether or not the overnight ramp job can hold, with futures currently up about 7.50.  2015-03-12 ES 60 0610USDJPY 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 120.11.2015-03-12 USDJPY 60 0615 0600And, 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.

2015-03-12 CL 60 0610The two most interesting charts are DX and EURUSD.  Both are showing a bit of a reversal, which — when it occurs for real — will be the biggest potential game changer around.

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