Lots of targets were tagged yesterday, beginning with SPX which nailed our 50-day moving average target. There’s a reason, however, that futures are off even more this morning. continued for members… … continue reading →
Tag Archives: DXY
Futures are off moderately following yesterday’s reversal, the 6th session in a row that ES failed to surpass its .886 Fib retracement. continued for members… … continue reading →
In a speech that was essentially a mashup of all his other recent speeches, Powell reiterated at Jackson Hole on Friday that the pandemic – not historically dovish monetary policy – caused the recent huge spike in inflation. In fact, the Fed should be congratulated for putting out the inflationary fire that they started. He … continue reading →
In our last dedicated Update on Gold and Silver in April, we noted that gold had reached our Fibonacci target of 2466.50 but could have further to go. GC is fairly straightforward. There’s a large IH&S pattern which completed around Mar 7 targeting 2557, a short distance above the white 1.618 at 2466.50. GC reached … continue reading →
Futures are off moderately after weaker than expected housing data and in anticipation of next week’s Jackson Hole Fedspeak. ES reached our next upside target a little ahead of schedule, and is now backtesting the purple TL from recent lows. continued for members… … continue reading →
Futures are slightly higher in a week certain to be buffeted by a bevy of important economic data. continued for members… … continue reading →
Futures are up slightly as the FOMC begins its July meeting. But, it’s a continuation of the consolidation that began last week. continued for members… … continue reading →
A lot has happened for RUT in the past week. It was only 11 days ago that we updated its chart, suggesting RUT would reach 2282 by the end of the year. RUT’s reversal at its .618 in April set up either a Gartley or Bat pattern, meaning a move to its .786 at 2282.27 … continue reading →
Greetings from Anegada, British Virgin Islands. We continue in vacation mode, with the next post planned for Thursday, May 16. The markets continue to track our forecast, with breakouts in equities and currencies and a breakdown in VIX. Oil and gas continue to hint at a breakdown, buy this remains a wild card. continued for … continue reading →
This is the fourth time in a row that ES has pushed back into the rising channel from which it previously broke down. This one is more important, however, as it has the 50-day moving average in its sights. As we discussed last week, all the stars are aligned should the algos wish to pursue … continue reading →