AUDJPY Weekly Hammer Near 2022 High

The AUDJPY has gained more than 200 pips from Tuesday’s low, and is now forming a weekly Hammer just a few days’ volatility from the 2022 high. Odds are elevated that the AUDJPY will want to consolidate the balance of June near its current 23.6% Fib retrace of the slide from the Oct 2007 high to the Oct 2008 low (as seen on tradingview.com)…

Nasdaq100 (NQ) Testing Weekly Chart Downchannel Support

Although the Nasdaq100 (NQ) formed a fresh 2022 low yesterday, with the NQ at downchannel support (on the weekly chart), the NQ is only moderately likely to slide further this week to downchannel support (on the daily chart). Any break above downchannel resistance (on the 4hr chart) will dramatically increase odds for a daily close above the psychologically key 12k whole figure level by early next week….

Wheat (ZW) Tries Forming Higher June Low VS Mar Low

Wheat (ZW) is trying to firm after Friday’s WASDE, but remains vulnerable to a deeper consolidation in June. The monthly red hammer trying to form (as can be seen on tradingview.com) after 3 green monthly candles with long upper shadows suggests a moderately high probability for a retest in June of the psychologically key 1000 whole figure level and the 50% Fib retrace of the January to March bull market extension…

VIX (VX) Tries Bouncing Off May Low

The VIX (VX) is beginning to form a weekly Hammer, holding the higher May low versus the April low, and reinforcing the uptrend (as seen by the higher May high versus the April high). Any break above downchannel resistance (on the 4hr chart) would dramatically increase the likelihood of retesting the 61.8% Fib retrace of the April to May bounce in the few days after…