the long term time pressures down complete next week on both the weekly and daily charts.
often, this could signal a sharp move down into the cycle completion.
the next target up is 79.92; a move down thru 78.15 signals a move down.
trade pressures are toppy.
CRUDE_ is in a long term move down to 72.74. but is also in a corrective move up inside that move down.
that move up will be voided if we trade down thru the 75.82 low.
time pressures are up but turn down next week thru thanksgiving.
trade pressures are down but showing divergences up.
a trade up thru 78.51 could restart the move up.
stop any trade at the 75.82 lows.
the dollar is about to reach an upside target. the metals should react to a dollar move down.
GOLD_ up 30 this am. have support at 1598 – 1546.
the time pressures are up but peak and turn down the week of 11/4.
trade pressures are down but showing some divergences.
the trade up off the 1535 low thru 1531 had triggered a long entry which is still working.
reached the 1672 target; the next target up is 1691.
a move down thru 1586 cancels the long trade.
SILVER_ has entered a new upward time cycle thru the end of the 2011 year.
trade pressures are fully extended down and are ready for a move up.
short term long entry is 30.86 to a first target of 33.46 and then 36.16.
a move down thru 29.10 cancels the long trade.
COPPER_ in a protracted down move to 2.91.
the time pressures are down thru 10/28.
trade pressures are down but showing divergences.
a move above 3.16 should start a rally. to 3.41.
PALLADIUM_ these industrial metals are reacting to the perceived slowdown in China.
the improved auto report this am may help.
we have reached the 596 target and should expect consolidation here.
time presures remain down.
trade pressures are down.
a trade up thru 618 is necessary to start the new move up.
the S&P has followed thru in the overnight markets to reach the extended target of 1181.75
next target up is 1193.
need to take out the 1214.50 high to get out of the sideways channel.
trade pressures are up and time pressures are turning up.
a move down thru 1154 stops the move up.
Monthly and weekly are pointing to lower targets.
the daily is oversold with a lower target of 1084.
but trade pressures are over sold and the time pressures will turn up in three days.
the intraday is starting a new move up to an 1159 target. {update: closed on the target}
a trade below 1117 will signal a failure.
the dollar trade took some time to work but has met the 79.25 target and is in consolidation.
the next target up is 80.89.
a move down thru 78.73 would put a downside target of 77.35 in reach.
30yr Treasury Bond_ a move down thru 142 -24 could start a decline to 138-10
Crude met the 77.50 downside target. 75.34 is the next target down.
the trade pressures are bottoming, the next move appears to be up.
time pressures are up.
a trade thru 80.50 would signal a move to 86.
all Ripped lower as the dollar rose.
COPPER_ made the the predicted 3.50 target and never stopped, going to the extended target of 3.05 in two days.
the rebound off the 3.05 target has triggered a long entry but the indicators do not confirm.
the intraday move projects a retracement up to 3.41.
the trade and time pressures remain down.
GOLD_ much the same as copper, the move to the projected target of 1717 was met and the next two days the extended target was met. the next target down is 1402.
we do have a support area that is trying to hold here at the 1546 area.
trade pressures are completely over sold and the time pressures turn up today.
a move up thru 1613 today on the intraday could take a retracement to 1692.
SILVER_ looks weaker than gold or copper.
met the extended target of 26.83.
Time pressures are up and trade pressures are oversold, so a move thru a new long entry price should be taken if trade pressures turn.
PALLADIUM_ have the next target as 596. ( and perhaps the spike down to 605 was sufficient).
635 is the new long entry if the trade pressures make a bullish reversal,turn up.
then would look for a 680 target.
the weekly is moving up off the downside target at 1085, but time pressures are down until 11/11.
this suggests a sideways correction in a channel bounded by 1100 and 1250.
the daily trade is up with the next target of 1241.
a trade down thru 1154 retest the short entry price.
the dollar is in the pullback after reaching the first target at 77.53.
trade pressures are down and time pressures turn down this next week.
the next target up is 79.92.
the pull back should reach 75.