Using the S&P 500 and Nasdaq 100 futures as examples, let’s bring the US market correction up to date. Monday played out to one option we had noted, which would be for a Monday morning swoosh down under pressure of margin calls and chart breakdowns, before a potential in-day reversal. We noted that if it did not reverse, bear signals would be in place (as … Continue reading NFTRH+; Using ES & NQ as examples
[edit] heading into the open DXY has taken back the SMA 50. FYI… Daily chart technical snapshot of some key items Gold is testing Friday’s break above the SMA 200. If that is successful it would be the first thing needed to turn bullish. Then 1860 would need to be taken out and then 1920 is the last man standing in the way. So the … Continue reading NFTRH+; Au, Ag, Cu, DXY, GSR & ES (futures) [w/ edit]
Indicators of and markets sensitive to the reflation instigated by ongoing inflationary operations continue to trend upward Today, as job growth rebounds (if you can call this a rebound), we check in on a few of the indicators and markets leading the inflationary charge. There are lots of others. We had a halt just below 2% on the 30 year Treasury yield, as anticipated in … Continue reading Meanwhile, the Inflationary Reflation Continues
A look at this morning’s futures with brief thoughts on each. The US dollar index is down again, to 89.38 with the next support target at 88 +/-. That is a long-term support zone not visible on this daily chart. USD is what has made the global stock rally tick. Lately gold and silver have been getting back on board the anti-USD trade. The metals … Continue reading NFTRH; 2021 Day 3 (a look at the futures)
The perfection is in the fact that one is getting brutalized by the optimism breaking out everywhere (Media serve up everything from vaccines to the presidential transition to the appointment of Janet Yellen as Treasury Secretary) and the other is factoring only the good news into its bullish optimism. It is perfect because if you’re a gold bull, you do not want to be running … Continue reading NFTRH+; Precious Metals & Stocks Are Perfect
Unfortunately for we humans with our firing synapses and hence gnat-like long-term attention spans, this pig moves at its own pace, which is slow. Until the drama of a big spike or big decline focuses said synapses on an event. So as we slog through the SPX (ES shown here) top-test we note the resistance at the September high, the support at 2815-2825 and a … Continue reading SPX (ES) Top-Test Status
