The S&P500 (ES) is consolidating with its weekly Hammer just shy of the psychologically key 4k whole figure level. With last week’s weekly Doji bouncing off just above the 2023 low, the ES has been trying to halt the slide from the February peak…
The VIX (VX) has seen strong profittaking from Wednesday’s fresh 2023 peak, but should be finding support soon as it drifts back towards this week’s low, just above where the VX had broke above the weekly chart descending wedge resistance. Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds for a retest of this week’s high in the few days after…
Gold (GC) is consolidating for a second straight day after the massive surge off last week’s low just above the 2023 low. A further drift lower ahead of the weekend should find support around the 38.2% Fib retrace of the February to March slide…
The S&P500 (ES) is trying to form a weekly Doji after rebounding off near the 2023 low and the 61.8% Fib retrace of the October to February bounce. Although odds are now moderate for this week’s short covering to spring ES back to the psychologically key 4k whole figure level, ES is less likely to retest the weekly chart downchannel resistance before month end than it is to slide below the November low in the same period…
The VIX (VX) soared more than 10% yesterday, breaking back above downchannel/descending wedge resistance (on the weekly chart). The VX is all but assured of a weekly close above this key bull/bear battleground, dramatically increasing odds of testing the psychologically key 25 whole figure level and January high sometime in March…
The GBPAUD is trying to halt its healthy consolidation from the February high, trying to avoid the weekly Gravestone flipping red. Any holding of yesterday’s low today should pave the way for a retest by early next week of the 61.8% Fib retrace of the February to September slide…
The VIX (VX) slid almost 4% yesterday after bumping against downchannel/ descending wedge resistance (on the weekly chart), but remains poised for another test this week of this key bull/bear battleground. Any reclaiming of last week’s high will dramatically increase odds of testing the psychologically key 25 whole figure level and January high in the week after…
Corn (ZC) is trying to firm to start the week but remains vulnerable to more downside this week after breaking last Thursday below triangle support (on the weekly chart). Odds are roughly equal for ZC to bounce off downtrend support (on the 4hr chart) before month end as it is for a slide to a fresh 2023 low in the same period…
The S&P500 (ES) is trying to firm going into the weekend, but remains wobbly for next week as it has arguably slid back into the downchannel (on the weekly chart). Odds are low for a fresh February high before month end, with ES more likely to slide to a new February low in the same period…
The S&P500 (ES) is looking wobbly as it has arguably slid under an uptrend support (on the daily chart). Odds are fairly low for a fresh February high before month end, with ES appearing like it will slide back into the downchannel (on the weekly chart) by mid week…
