The Nasdaq100 (NQ) is catching its breath in its Dead Cat Bounce, and appears poised for more upside in July. A weekly close above the psychologically key 12k whole figure level and the downtrend resistance (on the weekly chart from April to June) will likely coincide with a daily close above the daily chart downchannel resistance…
The Nasdaq100 (NQ) appears to be in the early stages of forming a multi-month low, with the current green weekly candle trying to rebound off downchannel support (on the weekly chart). Any break above last week’s high will dramatically increase odds for a daily close above the psychologically key 12k whole figure level by the weekend…
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)…
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) 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…
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…
The Nasdaq100 (NQ) has bounced off downchannel support (on the daily and weekly chart) and is in the early stages of a bear market rally. Odds are high for a test by June sometime of the 38.2% Fib retrace of the January-May slide, while the probability of testing the 50% Fib coinciding with downchannel resistance (on the weekly chart) in the same period is moderately low…
The VIX (VX) is forming a weekly Doji/Hammer after last week’s weekly Doji, suggesting an unwillingness for the VX to dip much below the 61.8% Fib retrace of the April to May bounce. The VX is all but certain to form a substantially higher May low versus the April low, reinforcing the higher May high versus the April high…
The VIX (VX) continues looking vulnerable to a deeper slide despite testing the 61.8% Fib retrace of the April to May bounce. Nevertheless, the VX appears poised to make a higher May low versus the April low, with decent odds of support kicking in at the May low…
The Nasdaq100 (NQ) is attempting to bounce off downchannel support (on the daily and weekly chart) after forming a fresh 2022 low in today’s Asia morning. Any clawing back above the psychologically key 13k whole figure level this week will likely halt the slide since early April for at least the next few weeks after…
