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August 24, 2021

Market Update 8/23 – Possible Equity Index Top Levels

SPY made a volume reversal last week. The red and blue bars on the chart indicate volume reversals at at least 5 year highs/lows. The signal is rare. Proposed resistance levels for ES and NQ futures (see next 2 charts) are about 4500 and 15460.
July 13, 2021

Market Update 7/12 – USD Correcting Lower

EURUSD held VWAP from the 2020 low (again) so near term focus is higher towards the center line of the channel from the January high, which is about 1.1935. Importantly, notice that the 75 line provided support therefore the 25 line is proposed resistance if reached (as per median line symmetry). The 25 line intersects the 61.8% retrace of the decline from the May high at 1.2081. Watch for support near 1.1825.
May 25, 2021

Market Update 5/24 – NOKJPY Idea

NOKJPY is an interesting chart. Price has rolled over from the trendline that connects the 2007 and 2013 highs. If a bigger down move is underway, then I’d expect resistance from the underside of the red trendline near 13.15. A longer term chart is below.
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