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 Nasdaq100 (NQ) is edging higher going into today’s European morning, just shy of its record high. Significantly, NQ appears well positioned to further extend its upchannel (on the weekly chart) and is now moderately likely to test upchannel resistance this week…
The VIX (VX) is trying to form its 4th straight green daily candle and its first green weekly candle in 6 weeks. Significantly, the VX has rebounded after slipping last week to a fresh 2021 low, with the VX back above downchannel support (on the weekly chart) after briefly sliding beneath it last week…
The VIX (VX) is trying to firm after slipping last week to a fresh 2021 low. Significantly, odds are elevated for a strong bounce this week as the VX tests downchannel support (on the weekly chart)…
The Nasdaq100 (NQ) surged 1% yesterday, and is now just shy of the record high formed in September. Significantly, NQ’s bounce since its early October low has reversed most of September’s slide, with odds high for NQ to follow the S&P500 (ES) in hitting a new record by month end…
The S&P500 (ES) is hesitating in today’s Asia morning after 4 days of gains. Significantly, although ES is trying to extend the upchannel (on the weekly chart) after bouncing off its support 2 weeks ago, any break today below the ascending wedge support (on the 4hr chart) will dramatically increase the odds of ES forming a lower October high versus the September high…
The USDJPY is in the advanced stages of a week plus Bull Flag consolidation (on the daily chart), firming just below last week’s intraweek burst to a new 2021 high. Significantly, the USDJPY is arguably completing a broader Bull Flag consolidation (on the weekly chart) that began early April, with odds high for a reclaiming of the 2020 and 2019 highs in the next week or so…
The S&P500 (ES) is trying to bounce going into today’s European morning after yesterday’s 1% plus slide, with some short covering likely ahead of Friday’s highly anticipated US Non-Farm Payrolls (NFP). Significantly, ES is testing upchannel support (on the weekly chart), with odds high for a weekly close below this major uptrend support line in October…
Wheat (ZW) is consolidating to start the week, digesting Friday’s massive 4% plus gains. Significantly, ZW bounced last week from the psychologically key 700 whole figure level, and is suddenly just shy of the 2021 high…
The Nasdaq100 (NQ) is trying to firm after yesterday’s near 1% slide, but remains vulnerable to a deeper selloff as early as today. Significantly, NQ is showing fatigue in its bounce off last Monday’s September low, with odds high for a retest of the psychologically key 15k whole figure level in the hour following US Fed Chairman Powell’s comments at 10am EST…
