The VIX (VX) is trying to firm after sliding yesterday to a fresh 2023 low below the psychologically key 20 whole figure level. Nevertheless, with the VX arguably nearing descending wedge completion (on the 4hr and daily chart), the VX appears more likely to retest the March high in April than to slide all the way to downchannel support (on the weekly chart) in the same period…
Gold (GC) is consolidating after surging yesterday to upchannel resistance (on the weekly chart) and the April 2022 high (on the June contract). Regardless of any healthy profittaking ahead of the weekend that brings GC back to the psychologically key 2000 whole figure level, GC remains well positioned in April to retest the record high formed in July 2020…
The S&P500 (ES) is consolidating after gaining 4 straight days, hesitating as it bumps against the weekly chart downchannel resistance. Odds are now moderately high for a retest of the August high in April. Before bears get excited, they’ll need to see a daily close this week below the psychologically key 4k whole figure level…
The VIX (VX) is trying to firm after sliding from last week’s 2023 high, but remains vulnerable to retesting the 2023 low and the psychologically key 20 whole figure level going into April. Any reclaiming of this week’s high will likely have to wait until next week, and would dramatically increase the odds of testing the key 25 level in the few days after…
Silver (SI) is consolidating with its weekly Hammer after the monster rally from the 2023 low (formed 3 weekly candles ago) around the psychologically key 20 whole figure level. Nevertheless, a deeper pullback to below the 50% Fib retrace of the January to March slide before month end is unlikely…
The S&P500 (ES) is trying to form a weekly Doji just above the psychologically key 4k whole figure level. Although ES managed to hold the 2023 low 2 weeks ago, the ES has been reluctant to extend its subsequent bounce…
The VIX (VX) is consolidating after bouncing strongly yesterday off a much higher low versus the 2023 low (from 2 weekly candles ago). Any weekly close above the psychologically key 25 whole figure level would dramatically increase odds of a test of this week’s high next week…
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…
