Author: Charlie

S&P Futures

move up today reportedly on the expectations of QE3. who really buys on the hope that govt will act or react?

the chinese manufacturing activity rise more  likely the cause.

have broken the hourly down channel to the upside.
the retracement trade inside the longer term down move is long to 1191 and then to 1241.
the long entry was adjusted down to 1143 from 1149.

a move down thru 1135 could start a new move down.

Crude Oil WTI

weekly downtrend  showing some divergence. the retracement trade is long at 85.02 to 94.22.

the daily trade is still in the down channel but a long entry for a retracement up is a pullback to the 82.77 level.
time pressures are up. trade pressures are still down.
the next bullish reversal up of the trade pressures should give a signal.

Metals

COPPER_ the long term is bottoming. time pressures turn up thanksgiving.

the Daily trade is long from 4.00 with a 4.23 target.
time pressures are up from 8/18. trade pressures are up.

a break below 3.81 reverses the trade.

GOLD_ in a major sell off after hitting the 1919 target [1915 high].
time pressures turn down on 9/5. trade pressures are overbot.

SILVER_ silver traded up to the 44.09 target and is selling off.
time and trade pressures are up.  the trade pressures are overbought.

40.56 is the short entry to 35.08.

S&P Futures

Daily – still in the downward time pressures. trade pressures are down.
the 1140 area is a pivot point for up to down.  the next target down is 1075.

the move up is triggered with a trade thru 1149 to 1247.
intraday cycle is in the move up now.

 

Metals

COPPER_ consolidating at the downside target of 3.82. [oftentimes a good “tell” for the stock market]
the move up has been triggered at 3.98, upside target is 4.34
the time pressures up . trade pressures are up.

GOLD_  reversed the decline and entered the new new move up.
trade up to 1882.80 intraday, next target up is 1891.
the trade pressures are up and extended. the time pressures are up thru the 6th of sept.

a trade down thru 1726 starts a correction perhaps to the recent gap.

SILVER_ have reached the target from the long entry of 39.24. to 42.53.
time pressures are up thru the 5th of sept. trade pressures are up.

a move down thru 41.26 signals a move down to39.32

S&P Futures

the Morgan Stanley report lowering the global growth forecast to 3.9%
has renewed fears of a euro crisis and the knock on effects to earnings in the US.

the downward time pressures remain in place thru thankgiving.
trade pressures are turning up.

the daily has triggered a short entry to 1075 which is a retest of the recent lows.
a move up thru 1163 would signal a restart of the move up to 1260.

1131 is the intraday downside target, so some pause is likely here.

US$(DX)

a rising dollar puts downward pressure on the stocks and metals

the downward time pressures on the dollar end October 14th.
trade pressures are down but diverging.

have traded down to the 73.42 target. a move up thru 74.01 today starts a move up to 75.46