Monthly and weekly pressures are up with a nearby target of 1305.
daily -currently in the move down to 1198. the 1204 fib support held the down move.
Time pressures are down thru thanksgiving. trade pressures are turning up.
Most likely scenario is sideways to Thanks giving and then up.
today’s price of 1263 is the long entry for a trade to 1345 on the daily.
but need to close above that entry price.
DX_
the dollar is in a move up from 76.43 to 78.74.
the weekly trade pressures are about to turn up.
the weekly time pressures are already up.
a trade down thru 76.00 could test the 74.86 lows.
CRUDE_ traded thru the long entry of 94.04. the next target is 101.21.
a trade down thru 93.26 would signal a correction to 87.
The Dollar seems to be setting up for a rally.
COPPER_ is consolidating around the 3.66 target, which was met last week.
trade pressures are down and the time pressures are about to turn up.
the pullback to 3.44 target was also met.
the next target down is 3.26.
a move up thru 3.64 would signal a new move up.
GOLD_ at 1795 the next target is 1831.70.
trade and time pressures remain up.
a move down thru 1711 would signal a correction.
SILVER_ traded up near the 35.92 target then pulled back to 32.11.
now has triggered the move up to 38.04.
but with the trade pressures showing some negative divergence expect the old target of 35.92 to offer resistance.
it is all about the dollar.
the trade down thru 1258 was the short entry to 1213 which was made in one day.
the next target down is 1167.
while the time pressures are down thru thanksgiving, there is fib support at 1204.
a move back up thru 1263 could get this rally going thru the year end with a 1345 target.
this dollar move up has been dramatic and is the primary influence on the metals, minerals and the equity markets.
the trade thru 75.80 set the trade up to 78.74 in motion. must see the reaction to the 77.85 pivot.
a trade down thru 76.52 will signal a new leg down.
CRUDE_
after reaching the target of 94.85, now in the move down to 84.76.
a move up thru 94.04 should restart the move up.
COPPER_ the old 3.72 target down has acted as resistance on the way up.
while this is a pullback to 3.36 very near a short entry point of 3.44,
a move up thru 3.64 will renew the move up.
GOLD_ still in the move up to 1777.
a move down thru 1668 will signal a move down to 1542.
a move up thru 1720 should start a new move up to 1774 and then 1831.
SILVER_ reached the 35.92 target. now in the move down to 31.24
a move back thru 34.51 sts up new targets up of 38.04 and 41.72.
the August drop was a repricing of the market multiples to adjust for what then was believed to be recession level earnings.
as the likelihood of a second recession receded, the multiples began to re-expand.
we now are approaching the same S&P prices just before the drop.
the next targets higher are 1287 and 1306, but the upward trade pressures are slowing and extended.
a move down thru 1242 would signal some retracement to 1197.
the dollar index had moved to the expected 79.92 target.
then began a retracement down to 76.77; reaching that target as the market began its move off the Oct 4th lows.
the second leg down began at 76.92 with a target of 74.50.
a move up thru 76.85 would signal a new long entry to 79.16.