MONTHLY – trade pressures remain up. Volume is bullish.
the next target up is 2204.
WEEKLY – trade pressures are up and the volume is bullish.
the next target up is 2095 and 2119.
DAILY – trade pressures are up and volume is bullish.
at the 2039 target, the next target up is 2059.
expect consolidation here.
the next short entry is 1996.
USD (DX)_
weekly – Trade pressures remain up. Volume is bullish.
Daily – Trade pressures are down. volume is bearish.
the short entry is 87.66 with a 86.53 target.
88.35 is the stop.
30YR TBonds_
Weekly – trade pressures a re down. volume is bullish.
in the short trade from 143-05.
Daily – trade pressures are up. Volume is bullish.
in the short trade from 143-17
need a trade above 143-07 to restart a move up.
CRUDE_
Weekly – trade pressures are down. volume is bearish.
the 73.60 prior low was tested.
Daily – trade pressures are down but volume is bullish.
the next target down is 67.34.
need a trade above 77.93 to signal a new long entry.
NAT GAS_
Weekly – trade pressures are up.volume is bearish.
Daily – trade pressures ahve turned down. volume is bearish.
still in the long trade from the 4.26 entry price.
stops at 3.62
COPPER_
the FXI, the China ETF, is long from 39.41 with a 43.22 target. As the marginal buyer of copper, this ETF can be used as an indicator.
Weekly – pressures are still down, but extended. Volume has been bullish for two weeks.
need a close above 3.13 to change the momentum.
Daily – still in the long trade from 3.05 on 10/28. have experienced a pull back to a lower median line.
Trade pressures remain down but volume is now bullish. a second break out above the long entry should start a new move up.
stops remain at 2.95
GOLD_
Weekly – the 1142 is producing support and the expected consolidation.
trade pressures are down but volume is bullish.
Daily – the trade pressures are up. Volume is bullish.
in the long trade from 1155 with resistance at the 1200 level.
stops at 1129.
SILVER_
Weekly – trade pressures are dwn. Volume is bullish.
Daily – trade pressures are up. Volume is bullish.
the long entry is 16.56
stops at 15.05
Monthly –
Trade pressures are up. Vol is bullish.
next target up is 2204.
Weekly –
trade pressures are up and volume is bullish.
a new long entry was signaled at 1930 confirming the daily entry.
then next target up is 2095.
Daily –
in the long trade from 1846 and at the extended target of 2027.
expect consolidation here and then the next move will develop.
the next target up is 2039 and 2059.
trade pressures are extended up and showing some divergences. volume remains bullish.
a close below 1985 would signal lower.
USD (DX)_
Weekly – The 88.78 target is within reach.
Trade pressures are up and extended. volume is bullish.
Daily – at the 88.18 target, the next target up is 88.61.
trade pressures have turned down. volume is bearish.
the short entry is 86.74.
30YR T_Bonds_
Weekly – Trade pressures are down. volume is bullish.
in the short trade from 143-05. next target down is 135-09.
Daily – in the short trade from 143-17. next target down is 136-10.
trade pressures are down and volume is bullish.
stop and reverse at 143-07.
CRUDE_
Weekly – The break below our 83.12 weekly target has seen some wide swings taking the market to its recent lows of 75.92.
trade pressures are down but extended and the volume is bullish, suggesting short covering.
the next weekly target down is a test of the 73.60 low pivot of mid 2012, then 69.76.
Daily – trade pressures are down but extended. Volume remains bearish.
the next target down is 66.09.
need a close above 80.58 to signal a move higher.
NAT GAS_
Weekly – almost reached the 3.55 downside target before have two bullish weeks of up volume and price.
trade pressures are up. volume is bullish . the long entry is 4.35
Daily – Trade pressures are up. volume is bullish and a long entry have been signal with a close above 4.26.
The next target up is 5.26.
stops at 3.62.
COPPER_ Copper is reaching a breakout point, up or down.
Weekly- trade pressures are over sold. the volume is bullish.
the 2.96 support has been tested multiple times.
the next target down is 2.67.
Daily – Consolidating at the 3.00 target for four weeks, with a low of 2.95.
the long entry of 3.06 has been triggered, but has generated a pull back below the trigger price.; which usually signifies short covering.
the next trade thru should signal a new move up to 3.22.
Daily trade pressures are down and volume is showing some accumulation.
stops at the 2.95 low.
GOLD_ the daily trade up was short covering and failed to continue higher. then failed and took price down to the long noted 1142 downside target.
Weekly – trade pressures are down, but volume is bullish.
expect consolidation at this 1142 level. the next target down is 1045.
Daily – has taken out the high of the wide down bar of Wednesday, “Dragio Day”.
the trade pressures are down but extended. Volume is bullish.
a trade above 1179 should start a new retracement move up to 1207.
but need a trade close above 1212 to breakout of the downward channel.
stops below 1136.
SILVER_ Has taken out multiple downside targets after failing to hold the 16.25 level.
Weekly – trade pressures are over sold and volume is bullish.
the next target down is 10.70. new long entry is 17.73.
Daily – at the 15.56 downside target . trade pressures are down but over extended. volume is bullish.
so perhaps short covering. next target down is 11.76.
need a trade close above 16.56 to signal a long entry.
Monthly – volume is neutral. trade pressures are down.
next target up remains 2204.
Weekly – Trade pressures are up. volume is bullish.
still in the trade down until the old highs are taken out.
Daily –
the 1991 short trade went to the 1859 target and then momentum carried it down to a shorter cycle target of 1815.
Last week a new long entry was triggered with a close above 1866. the first target of 1952.96 has been met.
There is resistance at the 1971 pivot. so expect some consolidation here.
the next target up is 2029-2039. But the 2014 high will be another significant resistance point.
a close below 1918 would signal lower.
[10/31 update: overnight futures are up 22 points. this will test the highs.]
USD(DX)
Weekly – Trade pressures are up and vol is bullish.
The weekly trade has broken above the 2012 and 2013 highs and is now retracing to test those old highs as support.
Daily –
the prior 84.73 is acting as support. Trade pressures are up and volume is bullish.
the retracement trade has taken the DX down to the 85.01 down target. The next target down is 83.89.
need a close above 86.62 to resume the long trade.
30YR TBonds_
Weekly – is consolidating around the 141-16 target after a spike above two weeks ago.
trade pressures are overbought. volume is neutral signaling distribution.
Daily – still in the long trade from 139-09. the spike has tested two targets , the 145-16 and the 146-21.
the pull back from these has generated a retracement trade down to the 141-14 downside target.
the next target down is 137-12.
trade pressures are oversold and volume is bearish.
need a trade close above 144-06 to resume the long trade.