WEEKLY_ broken out of the downtrend and testing the 1283 high.
trade presures are up and time pressures are up.
next target up is 1299.
next target down is 1110.
DAILY_ the trade is up. the next target is 1278.
trade pressures are neutral
and time pressures are down thru Jan 11th- Jan 20th, then two cycles turn up.
a trade down thru 1244 would stop the rally and restart the move down to test the November lows.
the S&P , Crude Oil and the metals are up and the dollar is down.
DX_
the next target up is 81.84
the weekly has made new highs but the weekly trade pressures are rolling over.
80.02 is the short entry to 77.97.
Time pressures are down and trade pressures are down.
CRUDE OIL_ at the full target of 103.42 and the 68% retracement of the move down.
divergences are showing the next move to be down.
However, today’s move thru the 99.85 long entry puts the market on a path to the next target of 108.65.
a failure that takes out the 98.30 low would signal lower prices.
The dollar is having a significant effect on the metals.
COPPER_ all time frames are in a trade up.
time pressures turn down on the 20th of January and take us into a cycle end around mid April.
all trade pressures are up.
the long entry of 3.39 took the trade near the first target of 3.66. this second move thru should reach 3.57.
as trade pressures would then be extended a pull back from there should allow for a trade to the 3.66 target
GOLD_ has been supported by the fib confluences at 1520 and has consolidated around the 1570 target.
today’s move takes the market thru the long entry with a target of 1689.
since the time pressures are down and end the 27th of January, it seems likely that a hard down day or two is ahead .
a trade down thru 1576 would restart the move down.
SILVER_ has retested the 9/26 spike down and now has traded thru the long entry price.
next target is 32.08.
time pressures turn down on the 20th of January. trade pressures are up.
as in gold, likely a move down before a sustained move up.
a trade down thru 27.54 could restart a move down.
Monthly and weekly pressures are both up.
time pressures are up thru the end of March.
while still inside the longer cycle uptrade, the current trade is down to 1176.
however the trade pressures are fully oversold and due for a bounce.
a trade up thru 1227 should start the rally to the 1270 area.
DOLLAR_
long term pressures remain up thru first quarter of 2012.
the next target up is 81.84.
price is extended.
a move down thru 80.02 could start a short term move down to 77.97.
Crude_
a slowdown in European demand and a closing of the Straits of Hormuz creating confusion.
long term pressures are up but the shorter term trade pressures have peaked and are turning down.
crude reached the 101 target and consolidated for a month.
the sell entry was on 12/8 at 100.42 and moved quickly to the 94.55 target.
the next target down is 87.60.
will need to take out 101 to resume the uptrend.
COPPER_ longer term pressures have turned neutral.
the trading range is between 3.21 to 3.76 .
the current trade is down to 3.00.
a move up thru 3.39 should start a new move up to 3.66.
GOLD_ pressures are down.
the second move dopwn thru 1714 was the sell signal.
now at the 1570 target, so expect some consolidation.
trade pressures remain down. the next target down is 1420.
a move up thru 1633 is required to restart the move up.
SILVER_ remains in the longer term move up from the 26.09 low.
trade pressures are down but showing some positive divergences.
the next target down is 26.41.
with the trade pressures nearing the end of the move down,
a trade thru 30.93 is required to get the move up started.
long time pressures are up thru April.
trade pressures are down but have positive divergences.
the trade is long from 1202 to 1284.
resistance here at 1251. a trade down thru 1230 signals a pullback to 1183.
most likely any profit taking pullback is to the short entry. will have to see what the indicators show then.
US$
in the trade up from 77.55 to 82.77. time pressures are up thru April.
daily pressures are turning down, so could see a pull back to 76.43.