The VIX (VX) is trying to halt the slide from October by rebounding off last week’s fresh 2023 low. Before bulls get excited, the VX will need a daily close above downchannel resistance (on the daily chart)…
Soybean (ZS) is edging higher to start the week, and appears poised to retest the January high this week. With ZS comfortably closing last week above the psychologically key 1500 whole figure level, odds are rising and elevated for a test of the June 2022 high sometime by or on the day of the next highly anticipated WASDE February 8…
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Wheat (ZW) is starting the week continuing a consolidation near the 2022 low, remaining vulnerable to a deeper slide towards descending wedge support (on the weekly chart) in January. With ZW below the 61.8% Fib retrace of the September 2016 to March 2022 bull market (as can be seen on a monthly chart on tradingview.com), odds are moderate for a sliding back to the 2021 low just below the psychologically key 600 whole figure level sometime in Q1…
Nasdaq100 (NQ) slid more than 1% yesterday after getting rejected Wednesday at descending wedge resistance (on the weekly chart). NQ appears to be entering the advanced stages of the Dead Cat Bounce that began early in the new year, with odds increasing for NQ to slide back to this year’s low before month end…
The GBPAUD is adding to yesterday’s massive 200 pip plus gains off just above the psychologically key 1.75 whole figure level. The GBPAUD is now nearing the 61.8% Fib Fib retrace of the February to September slide, with odds moderate for a test of the December high before month end…
Nasdaq100 (NQ)’s Dead Cat Bounce (off the October low) is all but over as seen by the sharp reversal from last Tuesday’s fresh December high. Nevertheless, any holding of the November low before Xmas will put a retest of descending wedge resistance (on the weekly chart) by early January into play…
The GBPAUD has been consolidating for a second week near or above the 61.8% Fib retrace of the February to September slide, and appears to be readying to break to a fresh December high. Odds are moderately high for a test of the psychologically key 1.85 whole figure level by year end…
The VIX (VX) is trying to form a major bottom by bouncing off near the 2022 low. With the VX consolidating just above downchannel resistance (on the daily chart), odds are rising for a weekly close above descending wedge/downchannel resistance (on the weekly chart)…
The USDCAD has bounced strongly off the November low, and is suddenly testing the 61.8% Fib retrace of the October to November slide. For now, the USDCAD appears to want to complete the Bull Flag consolidation since the October high, and retest the 2022 high and the psychologically key 1.40 whole figure level by January sometime…
