the early morning futures are well above the 1314 long entry price. next target is 1337.
a failure to take out the April 1st high keeps the short trade alive.
the downward time pressures remain in place til May 3rd.
trade pressures are up.
Author: Charlie
S&P Futures
the time pressures are down til May 3rd. trade pressures are turning up.
the 1288 target was met on the move down, the next target down is 1277.
a move up thru 1314 starts a new move up.
US$ (DX)
The S&P rating warning sent the dollar up and the 30 yr treasuries down.
the next target down remains 73.14, the long entry for the dollar is 76.40 to 78.72.
the trade pressures jumped upward and the time pressures will turn up Apr 29th.
the treasuries were down in the am, but then turned up to close near the highs.
the next targets up are 122 3/32 and 123 3/32.
119 30/32 starts a new move down.
time and trade pressures are both up.
Crude Oil
long term still in the move up to 156. every thing extended so ready for a correction.
the daily entered the move down at 108.47 with a 101.12 target.
the older 106 target is now acting as support.
time pressures are down and the trade pressures are up.
Metals
GOLD_ still in the longer term upmove to 1584. also in the daily move up to 1516.
the trade pressures on both the long term and the daily are fully extended, setting up the risk of a move down.
time cycles are neutral and about to produce downward pressures.
a trade down thru 1467 should signal a move down.
SILVER_ time pressures also ready to turn down and trade pressures are fully extended up.
next target up is 43.985 on the daily, and 48.74 on the long term.
a trade down thru 42.31 signals a move down.
COPPER_ is grinding lower while trade pressures are down, but time pressures are up.
the 4.16 target was met today. daily trade trade pressures are about to turn up. But time pressures are turning down.
the next target down is 4.088. expecting the recent low of 4.07 to act as support.
PL & PA appear to be sold out. a failure to hold 1770 and 716 would be worrisome.
S&P Futures
have traded down thru the short entry.
next target is 1276.
trade pressures are down and time pressures are down thru May 3rd.
need a trade above 1329 to restart the move up.
S&P Futures
futures have traded to 1338. two different long term projections have 1341-1345 as targets.
a break above these creates a new upside target of 1565.
on the long term charts, the trade pressures have made a reversal back to “up”. time pressures are now up thru June.
Daily – trade pressures are turned down while time pressures are up.
a 1312 is the entry price for a move down, first stop 1288.
[the Japanese report of another 7.4 quake sent the futures to 1322 in 15 minutes]
a breakout above the 1338 high should go to 1349.75.
the dollar index is likely to be the driver, a move up in the dollar should cause a sell off in the tangible assets and stocks.
the metals are stalling here, European euro bears watching.
US$ (DX)
still in the move down to 74.85. all long term pressures remain down.
But, as before, the indicators are showing divergence. a move up thru 77.08 would signal a move up to 79.39.
trade pressures are oversold. time pressures are down and end Apr 29th.
Crude Oil
Long term target still 156.35
Crude broke thru the 106.65 after two tries, now signalling 116.59
time pressures are down, trade pressures are extended up.
a trade down thru 105.40 signals a correction.
Metals
COPPER_ moving sideways between 4.45 and 4.07. the long term cycles are in a downtrend to 3.69, but the trade pressures are up.
the daily cycle is up from 4.38 next target is 4.59. trade pressure are up. the time pressures are up til Apr 19th.
GOLD_ in the long term move up from 1377 to 1516, but the move is getting tired,
trade pressures turning down and time pressures turn down at the end of April.
the daily cycle at the 1464 target with trade pressures extended and time pressures turning down.
a trade down thru 1435 signals a new move down.
SILVER_ the 40.16 target is at hand and as with gold the move is extended both in price and time.
the daily hit the 39.75 target three days in a row. trade pressures are extended up and time pressures are down.
a trade down thru 38.50 would signal a correction.
both platinum and palladium have met their targets [1803] & [800] and are pulling back.