Monthly remains in uptrend.
Weekly is approaching the crossover into uptrend. a failure to cross would signal lower prices.
Daily – after testing the 1443 upside target 4 days in a row,
the daily has spiked down thru the 1413 short entry price but has closed above the low and above the short entry.
if there is follow thru down, the next target down is 1364.
a resumption of the move up would be signaled by a move above the 1443 highs.
the next targets up are 1443 and 1469.
USD_ remains in the down trend, but at levels that could start a new up-move.
the next target down is 78.93.
pressures are oversold. a move up thru 80 would start a new move up.
30Yr T-Bonds_ in a corrective move up from the 147-05 entry price to the next target of 149-21. Pressures are turning up.
the next target down is 144-17.
CRUDE_ is neutral, trading off the 84.05 pivot and signaling higher from the 89.36 entry price.
the target up is 97.95.
a move down thru 86.00 could continue to the 80.27 target price.
NAT GAS_ in the pull back to the 3.00 level.
pressures are down but the daily is turning up and has triggered the 3.46 entry.
the next target up is 3.77 then 4.09.
COPPER_ weekly in the move side ways with a positive bias.
the daily has moved up out of the downtrend, but the recent move down has returned the market to the down channel.
the next target down is 3.45.
a move up above the recent 3.72 pivot is necessary to restart the move up.
GOLD_ all pressures down. trading between 1537 and 1804.
Daily at the down target of 1632. the next target down is 1565.
a move up thru 1685 would start a move up to 1843.
SILVER_ all pressures down. Currently at the 29.705 target.
the next target down is 27.78.
could expect a retrace up with a trade thru 30.47. any move up should stop before 33.05.
S&P_
November monthly closed in the buy range. pressures are neutral.
weekly is in the trade up from 1391 to 1474. pressures are up.
Daily trade is up, but at resistance and showing negative divergences.
after a move thru the 1431 pivot, next target up is 1475.
a small pullback to 1399 would cure the current over bot conditions, and could set up a new move up.
these fiscal cliff conversations introduce chop. a rally is likely with any resolution.
but if too much austerity is part of the bargain then look for downward pressures in the first half 2013, then a recovery in the 2nd half.
USD_ in the move down from 80.46 to 78.77. next target is 79.38.
a move up thru 80.38 will signal higher.
30yr T-Bonds_ remain in the trade down to retest 148-10.
the trade up thru 149-31 has signaled a possible move up to 152-15.
CRUDE_ trading thru the entry price of 89.35 today. next target is 97.95.
pressures are up.
a trade down thru 86.34 signals lower.
NAT GAS_ in the down move from 3.96, now at the target.
expect consolidation and possible move up.
pressures remain down. next target down is 3.44.
need a trade up thru 3.72 to signal higher.
COPPER_ in the new move up from 3.53. next target up 3.74.
pressures are up.
a move down thru 3.57 will signal a move down.
GOLD_ pressures are down. However the trade is up from the 1723 entry point.
next target up is 1802.
stops at the 1675 low pivot.
SILVER_ still in the move up from 31.93. has traded thru the first target signalling a further move to 35.91.
need to take out the 35.45 high pivot.
pressures are neutral. need a weekly close above 33.80 to give a longer term buy signal.
The monthly is testing the bearish move below the MACD.
could be a strong bullish signal if we can close the month up and the MACD remains up.
need to close above 1381.50.
the weekly needs a close above 1391.00 for a new long entry.
and the Daily triggered the long entry today at 1359.75 with the next target of 1392. so we can see the confluences at work.
expect resistance at the 1392 level.
the MACD turns positive tomorrow the 20th, look for follow thru.
the important levels will be the triple top at 1431. if those can be taken out then a test of the recent highs is likely.
if the rally fails then 1323 will be the next downside target.
USD DX_ consolidating around the 81.17 upside target met last week.
next target up is 82.07.
a move down thru 80.47 would signal lower; to a 78.77 target.
30yr T_Bonds_ triggered a move down today. the next target down is 149-28.
a move back thru the highs would signal a new target up to 155-15.