The Nasdaq100 (NQ) slid almost 4% yesterday to start the week, and is now just a day or so’s volatility from the 2022 low. Significantly, although NQ is firmly in a Bear Market, with the Dead Cat Bounce (Bear Flag consolidation) of last week vulnerable to extending lower by next week, NQ may first stage another short covering rally before finally breaking to a fresh 2022 low…
Wheat (ZW) has gapped up and opened limit up to start the week (on a continued escalation in the Ukraine-Russia conflict), breaking above uptrend/ascending wedge resistance (on the 4hr chart). Significantly, ZW is just shy of the record high in 2008, and is vulnerable to strong profittaking once it tags this key resistance level…
TOP50’sTOP10 (LUNAUSD, ATOMUSD, XRPUSD, BTCUSD, ETHUSD, AVAXUSD, FTMUSD, CROUSD, MANAUSD, SANDUSD, FTTUSD, XTZUSD)
Raw Sugar (SB) surged more than 1.5% yesterday, gaining for a 3rd straight day. Significantly, SB is suddenly at a 2022 high, and has reclaimed the 50% Fib retrace of the November to February slide…
The USDJPY is edging up going into today’s European morning after yesterday’s strong bounce. Significantly, with the USDJPY back above the psychologically key 115 whole figure level, and the current weekly Hammer showing an unwillingness for the USDJPY to test wedge support, odds are high for the ascending wedge (on the weekly chart) to extend above the 2022 high in the next week or so…
Natural Gas (NG) has edged higher in today’s Asia morning on the potential for the Russia-Ukraine conflict to escalate. Significantly, odds are suddenly high for NG to retest the psychologically key 5 whole figure level and the 2022 high sometime in March…
The VIX (VX) is consolidating going into today’s European morning, with a wide trading range expected this busy news week. Significantly, the VX is likely to retest the February high in March, given the higher February high and low versus January’s…
