Author: Charlie

S&P Futures

the long term short entry of 1290 was touched and is acting as support. 1238 is the first target down on this long cycle.

Now in the move down from 1315 –
the daily down target of 1282 was reached and price is  consolidating. 1249 is the next target down.
trade pressures are down.
but the time pressures turned up on friday and, as if on cue, the market rallied to the intraday target of 1303.
the next short cycle target up is 1318.  [since the dominant cycle is down, it is logical to expect the market to turn down from there.}

it will take a trade up thru 1322 to restart a move up.

US$(DX)

moving up to the entry price of 77.97 then to 79.55

a break of the 76.405 low puts the 74.53 downside target back in play.

trade pressures are up time pressures are neutral.

 

Crude Oil

Crude oil is still in the down move to 97.29.

but that move down is inside the longer term move up to 156. the next target up is 108.89

a move back up thru 103.91 signals a resumption of the move up.

trade pressures are down. time pressures are up.

Metals

Copper –  consolidating around the 4.19 target. next target down is 3.89.
trade pressures oversold.  time pressures are down til March 28th.

a move up thru 4.34 is required to restart the move up.
the long term trade pressures are very oversold, so a move up is likely.

GOLD – still in the long term move up to 1474.
the Daily cycle has touched the short entry at 1408. next target down is 1377.
trade pressures are down and time pressures are up til March 25th.

a move up thru 1437 will void this down move and restart the up move to 1477.

SILVER – in the longer term move up to 40.17.
the daily cycle up was stopped at 36.68; a short term move was stopped at the first down target, as the time cycle turned up.
while still in the down move,  a move thru last weeks high will signal a move up to 39.75.
trade pressure are down. time cycle is up thru the 25th of March.

S&P Futures

—-   now using the June contract  —-

the weekly 1290 entry price has been triggered. first target down is 1238.

the Daily move has been down from 1318 has met most targets, next target down is 1249.

the new up cycle turns time pressures up today.
trade pressures are oversold and turning up on the intraday cycles.

a move up thru 1322 will signal a move up.

S&P Futures

there is a long term short entry at 1290 with a target of 1213.
this a corrective move.  the longer term upside targets of 1422 and 1556 are still in place.
the long cycle time pressures are down til mid May 2011 and the trade pressure are down.
>>>>>>>>>>>>>>

S&P in the daily down move from the 1319 short entry to 1253.
have bounced off some trendlines, but now looking at a second leg down to the 1253 target.

time pressures are down for the next few days and then up.
need a trade up thru 1336 to restart a move up.

US$(DX)

the down side target of 76.27 is very close, next target down is 75.74.

time cycle turns down 3-18, but trade pressures are oversold.

a move above 77.98 is required to start the long trade up.
a trade above the 76.81 level would be an early warning of the move up.

Crude Oil

Event driven pricing. opened near the 106.95 high and sold down all day.

met the 105.90 target, next target up is 108.99
the long term target of 156 still in place.

time cycle up til 3-25, trade pressures are very overbought.
104.56 would start a move down to 101.

[update: 101 met quickly , next target down is 97.29]

Metals

Oil is up, copper is  down, precious metals are up.

Copper  –  in the down move from 4.55 to 4.19.
[update: next target down is 3.89]
trade pressures down,  the down time cycle in place until 3-28.

a move up thru 4.51 is required to restart the uptrend.

GOLD – in the move up from 1378 to 1477.
time pressures just turned up. trade pressures are fully extended up.
a trade thru down thru 1408 would start a move down to 1362.

SILVER – time cycles have turned up, but trade pressures are overbought.
in the upmove from 34.64, next target is 37.28.
a trade down thru 35.50 would signal a move down to 31.77.

[update: in the down move to 31.77]

S&P futures

the 1346 target was almost met with the friday high of 1343. a move down thru 1290 starts a new move down.
the long term downward time pressures end march 11th. trade pressures have been fully extended for some time now.

Daily – the move down thru 1329 started this move down to the 1290 target.
this target is the short entry for the long cycle. so expect a move up off the target and then look for a trigger for the next move down.
time pressures are down till mar 10th. trade pressures are down.

a move above 1328 is required to restart the move up, and even then, the recent high will provide significant resistance.