December 13, 2020

Scandex Technical Weekly: 12/13/2020

Copper reached the noted 61.8% retrace at 3.6130 on Friday and reversed lower. The level is also reinforced by the upper parallel of the channel from the March low. Let’s see how action develops following Friday’s reversal but this is a great spot for a more important pivot. I’m also wondering if copper is ‘the canary in the coal mine’ regarding other assets (USD, stocks, BTCUSD, etc.).
December 3, 2020

Market Update: December 2

Gold is one of the only things I’ve gotten right recently. Watch for resistance and a reaction near 1849. If price pulls back from there then I’d keep 1800 in mind for support and a higher low against the 11/30 low.
November 9, 2020

Market Update 11/9 – Important Stock Market Signal

TLT has reached the long term parallel that was noted as the ‘critial level to pay attention to’ several weeks ago. Simply, this is a major decision point. Weakness below would be a game changer but support is support until broken so I’m thinking bounce.
November 1, 2020

Scandex Technical Weekly: 11/1/2020

Another month is in the books and SPX continues to trade ‘heavily’ under the its ‘meridian line’. An inside month formed in October. Recall that September was an outside bearish month (see the close up view below). Of note is XHB (homebuilders), which made a monthly volume reversal in October (see below). Is this one of the last segments of the market to put in a top?
October 5, 2020

Market Update: October 5

USDOLLAR turned up from the top side of the neckline on Thursday but returned to the neckline today. Failure to turn up now risks a failed breakout, which would be viewed in a bearish light.
September 29, 2020

Market Update: September 29

We looked at DXY yesterday, remember that the neckline is 93.50 and proposed support for that index. USDOLLAR is nearly identical with the neckline near 12040. I’m in the re-test of the breakout level (neckline) and then higher for the USD.
September 28, 2020

Market Update: September 28

Silver broke the trendline from the March low last week and is bouncing from short term oversold conditions. It would be quite a bounce but the underside of the noted trendline intersects the well-defined 26.10/28 zone late this week.
September 15, 2020

Market Update – September 15

WYCKOFF DISTRIBUTION SCHEMATIC The last 2 trading days have been awfully quiet so now is a good time for some educational yet applicable content.  I have […]
June 23, 2020

Market Update – June 23

After Friday’s action, the extent of today’s USD drop was a surprise. Additional EURUSD downside is possible though if price reverses right now, which is the 200 hour average, upper parallel of the short term bearish fork, 75 line within the channel from the March low, and VWAP from the June high (see below). Bottom line, the current level is important so let’s see what happens here before determining strategy.