The dollar index is pushing its way towards 100.70 as we broke and closed above the 100 handle yesterday. As of now, the momentum on the dollar index is so strong that we see little to no pull back on its way towards the next resistance point. With the CPI data coming out this morning, its the catalyst that we need for the next more in the dollar index. However,...
The bond market continues its march towards 3% yield in the price action as we made a new daily low in the 10 year. At this point its a matter of when the bond market sell off will take us to 3%, not if. With a slew of economic and central banking data being released this week, its highly likely that we get there sooner rather than later. Next target in the price...
After breaking the 4440 level in yesterdays trading session and bottoming out at 4400, the sp500 has caught a small bounce overnight. As we enter the NA trading session with the big CPI report ahead of us, any upside surprise in the CPI will scare the market into more FED tightening which would put further pressure to the downside for the stock market. Levels to...
The crypto market saw weakness across the board as the market suffer another leg down. Currently it looks like there is no real support and the selling momentum has no let off just yet. We can see bitcoin retesting the 40k or even the 38k before real buying starts to come back in. Therefore we will remain vigilant around these levels and monitor the health of the...
Our biggest concern with the crowd oil trade was the shake out of weak hands buying at the top. And oil did exactly that as it comes back to retest the support at the 93 handle. As of now, its looking extremely likely that a further squeeze to the downside for oil is likely. However, we are in the camp that this selloff should be bought up as the global...
We mentioned all of last week that gold was stuck in the 1920 - 1930 range and that there was a good chance that it would break on Friday. After doing exactly that and trading in the upper range of the 1940's, we are finally seeing gold trade towards the next resistance at 1960 range. After this level is cleared, it extremely likely that we will try for a retest...
The dollar index catch a big bid late Friday to take it pass the 100 handle. As this market is continue to trend higher and the market enviroment looks right for further rallies, we ask the question, can the dollar index blow pass the 100.70 highs set back during covid-19 pandemic? The technical suggest to us that there is enough buying momentum to at least retest...
Bond market continues to see selling pressure from the market as the hawkish fed is driven investors out of the safe asset. As we currently sit at the 120 handle in bonds, we are seeing further selling pressure to the start of this week and a move towards 3% yield is likely to happen. This means the price for bonds can continue to drop further towards 117.60 area.
The relentless selling in the bond market and the hawkish rhetoric from the FED has seem to finally gotten to the stock market. Since last weeks highs, the sp500 has consistently made new lower lows all last week and is headed towards what seemingly looks like a negative start to this week. The overnight pressure from selling has pushed us towards the 4440 support...
The gold market has been in a tight consolidation range from 1920 tp 1930 for over a week now and its appearing ready to make that breakout. As of now, all the indications suggest to us that gold will likely break higher rather than lower. Our next target for gold is at 1948 and 1965 level to the upside.
The dollar index looks to be ready for the breakout after having consolidating in a range for all of last week. As of now, we are looking likely to break the 100 handle to the upside on the way to the next resistance at 100.70. A level not seen since the height of the covid-19 pandemic.
The 10 year treasury market continues to price in further rate hikes from the fed by selling off. This has driven the price down to our support level 120.25. Any further deterioration in the bond market and we can see the yields start driving towards the 3% mark or further downside in the bond market towards the 117.60 level.
The SP500 has been holding the weekly range from 4440 to the bottom and 4630 to the top. As we enter the last trading day of the week, its looking likely that the complacent stock market will likely try to remain within that by the close. Key oscillating levels for the sp500 will be at the middle of the range at 4530. Any direction bias in the stock market will...
The crypto market has been on a wild ride after making new yearly highs, we have pulled back below a key support zone. After bottoming out at 43k, we are starting to see some bids come through. However, its difficult to tell whether this is a real bounce or more selling is to come. We are looking for more technical clues or a fundamental catalyst to give us...
The crude oil market has been on a wild ride as we trade above and below the 100 handle. Currently the market has broken below the 100 zone but has found support at 96 handle. Although the trade is to be long oil, its turning into an increasingly crowded trade and therefore shake outs should be expected. We can see oil breaking below the 96 support to retest the...
Gold has been sideways trading between 1920 and 1930 for a few days now and its finally starting to look ready to make a move higher. As we retest the upper range of the 1930, buyers are looking increasingly likely they are going to try for a break. If this happens, we could get further upside momentum that could take gold back to the 1948 or 1964 levels.
The dollar index has taken a pause to settle down at the highs of the upper channel range, 99.60. Its only a matter of time before the dollar index retest and breaks the 100 mark. Therefore any pullback should be view as buying opportunities for this breakout trade. The target on the trade would be found at 100.70.
The bond market continues to sell off further while pricing in the FED rate hikes. As of this week, we have already touched the 2.66% and likely will be headed towards the 3% handle, taking the bond prices much lower as we go there. Key levels to watch for to the downside would be at 120.25 and 117.60 zone.