After consolidating within the 97.85 to 99.40 range, the dollar index looks to be forming a technical bull wedge pattern up top. This fits with the current market environment as the FED is sounding more hawkish while the war risk rages on; both of which are extremely bullish for the dollar. We will be looking for a breakout of the 99.40 resistance as the dollar...
After making another new low in the European trading session, the 10 year treasury note is getting a small bounce as we enter the NA trading session. Current market sentiment would suggest further selling in the 10 year taking it down to the 120.25 area. However, after a tremendous selloff like this, we believe a relief bounce is likely to take place. Ideally, we...
As we mentioned yesterday, the SP500 was likely going to find resistance after breaking the 200D MA. Once it done that, the upside resistance at the next moving average acted as resistance while the 200D MA became support. As of now, this market is looking quite neutral, although a further pullback is likely after rallying for several days. We think the market...
After falling back to 1900's gold has bounced and found a new point of control at the 1920-1930 range. This new POC is giving traders the opportunity to get themselves exposure to some safe haven assets as we are still currently trading in uncertain environment. We believe that this value area for gold wont last for long, as we move back towards the 2k handle. We...
The dollar index appears to be developing a bull wedge pattern after finding support and bouncing. At the moment, it seems to be consolidating within the 99.50 to 97.90 ranging while building up for what looks to be a breakout to the upside. The first level we will be looking for is the 99 handle to the upside. After this is broken, 99.65 will be the previous...
The message was clear from Powell yesterday as he reiterated that there was nothing standing in the way of the FED from hiking by 50 bips at the next meeting. As a result, the 10 year treasury note has slid further to the downside. Currently, the 10 year is trading at 123.20 handle while the yields have touched 2.35%, way overshooting the markets expectation of...
After holding between the 50 and 200D MA on the daily chart, it looks as if the sp500 is ready to retest the move recent highs and potentially breakout higher. A clear break of the 4480 level is the first step. Then it will likely retest the 4500 or 4515 area. The strongest resistance for the sp500 at this point would be the 4450 mark where the 100D MA is...
Bitcoin has been slowly reclaiming key levels to the upside. It started with breaking the of 40k handle last week and holding above it. Now its taking out 41k and retesting 42k. This is usually a strong sign of accumulating in the markets and very health for a bull run. As we have mentioned many times before, the true retest and break will come from the 45k handle...
Oil was the big winner over the weekend, as we opening up slightly in the positive and just continue to trend higher over night in the futures market. Currently we are sitting at 109 per barrel. As we mentioned last week, nothing has changed fundamentally while the price dropped below $95 per barrel. We said that this was a fantastic price to buy as opportunities...
The gold market has pulled back slightly after peaking at 1950 last week. It looks as if gold buyers are happy to scoop up every dip we are getting here as the price pulls back. There is a point of control zone at 1925 where value is likely to established. Once the sentiment and risk tone kicks back into the market, its highly likely that gold will trend back up...
After the most recent runup, the dollar index has since falling back and developed a new sidways trading range in the 99.20 to 97.80 area. It looks to be oscilating back and fourth between those two key anchor powers on the chart. If you place the Fibonacci levels over that, we can see a broad range of potential targets on the dollar index that will help us with...
The 10 year treasury note is still falling further despite the 25 dips rate hike from Powell last week. It seems that the bond market is getting the memo on the fact that the FED wants to continue to remain hawkish, leaving ever rate hike on the table. As such. the momentum to the the downside has not let off. Currently we are looking to see if the level from last...
After marking a huge run last week and breaking the down trendline set at the start of this year, it seems like the sp500 is ready to retest some critical upside resistance. We are currently sitting at the 200 day MA to the upside on the sp500. With risk sentiment over the weekend looking neutral, it likely that the sp500 will pull back before being able to break...
After surviving the FOMC event while hanging onto the 40k handle, bitcoin has seem to lost momentum and is trading sideways at this price level. The good news for the bulls is that we are trading in the 40k handle and seem to be developing fair market value at this price. The bad news is that if it cant go up further, its likely to see some selling pressure. As we...
After bottoming out in the low 90's handle, crude oil has since rally back above the the 100 mark is going as high as 106. Yesterdays high is going to serve as a key resistance for the bull run on oil market and we will need to break that level on our way to the next resistance at 108 area. With the current market condition as is, we anticipate that it would be to...
Gold market is doing exactly what we have predicted after its tremendous selloff back into the 1900's handle. We have since bounce from there and began trending higher but in a much healthier way. Rallies back up with small pull back. The market has pull backed to the 1930 area and caught another bid. Its clear that the previous days highs at 1950 will serve as...
After selling off and hitting our target at 97.80 yesterday, the dollar index bounce off support and looks to be going back up. With Quad Witching upon us, its likely that a rotation to safety going into the Friday close will be likely. Therefore, we will be looking for upside targets on the dixie at 98.55, 98.75, or the 99 handle for today.
After hitting the 2.25% on the yields, the treasury market has bottom out and looks to be catching bids to the upside. With Quad Witching Friday upon us, we can expect more volatility to hit the markets and a rotation to safety is likely to happen. With that being said, we will be looking for for targets to the upside at 125.25 or the 126 handle as target.