ES is gradually closing in on our downside target.

continued for members…

It isn’t that the factors are driving prices lower…they’re just not supporting higher prices. I’m still looking for a backtest of ES’ SMA50 around June 4.

Currencies remain fairly quiet, not breaking down or out. CL is still under pressure after backtesting its SMA200. Keep in mind that there’s an OPEC meeting to discuss production levels this weekend.The 10Y has pushed back into the rising white channel after getting a bounce on its  SMA200. I’ll try to post over the weekend, including some thoughts on the Hindenberg Omen being reported in various places.

GLTA.