Coffee Daily Apr 26, 2023

Arabica Coffee (KC) slid more than 2.5% yesterday, breaking below upchannel support (on the 4hr and daily chart) and closing near the February high. With the current weekly Gravestone failing to reclaim the psychologically key 2 whole figure level, odds are increasing for a further swing from Wednesday’s fresh 2023 high to upchannel support (on the weekly chart) by early May…

Nasdaq100 (NQ) Continues 3 Week Consolidation Near 2023 High

Nasdaq100 (NQ) is struggling to extend a Bull Flag near the 2023 high (formed in April). With NQ just above the 38.2% Fib retrace of the bear market from the November 2021 high (as can be seen more easily on a weekly chart on tradingview.com), NQ is appearing increasingly unlikely to muster enough upward momentum in its rally off the October low to make a final push by May sometime to upchannel resistance (on the weekly chart)…

Coffee Daily Apr 24, 2023

Arabica Coffee (KC) slid another 1% plus Friday, with the weekly Gravestone decisively rejected just above the psychologically key 2 whole figure level. Nevertheless, with last week’s selloff from Wednesday’s fresh 2023 high, KC is merely seeing healthy profittaking within the upchannel (on the weekly chart)….

S&P500 (ES) Tries Forming 3rd Straight Weekly Doji Near 2023 High

The S&P500 (ES) is consolidating after forming a fresh April high (Tuesday), beginning to struggle as it slips back beneath the 50% Fib retrace of the slide from the January 2022 high to October 2022 low (as can be seen more easily on a weekly chart on tradingview.com). Nevertheless, any regaining of the 2023 high formed February before month end will dramatically increase odds of testing the August high by May sometime…

Coffee Daily Apr 21, 2023

Arabica Coffee (KC) slid more than 3% yesterday, breaking the psychologically key 2 whole figure level and upchannel support (on the daily chart). Although further healthy profittaking is likely today after getting rejected yesterday at uptrend resistance (on the 4hr chart) at a fresh 2023 intraday high, any further selling next week would likely be mild…