October 19, 2021
USDJPY DAILY

Market Update 10/18 – USDJPY Nears Big Zone

USDJPY has nearly reached the noted zone so pay attention. Aside from channel resistance, the level just above the market is defined by the late 2017 and 2018 highs at 114.55/74. A pullback from the zone would ‘make sense’. If reversal evidence arises, then there may be an opportunity to play the short side although 113.21 is in line for support (see below).
September 22, 2021

Market Update 9/21 – USD Levels into FOMC

In my view, USDOLLAR has broken out and is headed to 12130/60 (the next decision point). IF price pulls back (not or later), then the parallel that has been support/resistance since June 2020 (magenta line) is proposed support along with the 50 day average at 11940. That could happen on Wednesday with FOMC, at a later date, or not at all! Bottom line, 11940 is proposed support and I’m looking towards 12130/60.
June 16, 2021

Market Update 6/15 – Copper Breakdown

Copper broke today and the first level of interest on the downside is the 23.6% retrace of the rally from March 2020 at 4.20. This level coincides with resistance from this March. Former support at 4.4440 (also the 50 day average) is now proposed resistance.
January 28, 2021

Market Update 1/27 – USD Breakout!?

USDOLLAR (quarter each of EUR, GBP, JPY, and AUD) has broken above the trendline that originates at the 11/12 high. The top side of that line is now proposed support near 11684. Upside focus is the 12/21 high at 11837. The level is reinforced by the median line from the fork that originates at the January 2017 high. A longer term chart is shown below for context.
November 29, 2020

Scandex Technical Weekly: 11/29/2020

Right on cue. Bitcoin plunged last week before bouncing back. This is the 2nd weekly volume reversal in the last 3 years. The other one was in June 2019. Watch for resistance from daily reversal resistance at 18732
November 24, 2020

Market Update: November 24

There is a massive parallel in the Dow at about 30900 that is worth noting. The line crosses the 2007 and 2018 highs and high from early this year. The line equidistant from the median line (concept symmetry) was support in March. These parallels are based on the line that connects the 1932 and 1982 lows (see monthly chart below).
November 18, 2020

Market Update: November 18

Neither SPX or the Nasdaq have broken above their reversal day highs from last week (11/9). What’s more, SPX has reversed yet again from the line that connects highs since 2018. Don’t forget that this line crosses major pivots for the last 88 years (monthly chart is below). U.S. equity valuation is at a peak as well (see 2 charts down).
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 14, 2020

Market Update: October 14

The top 3 month EidoSearch is the 3 months leading up to the 1987 crash. This is not a prediction, simply an observation. Getting back to reality, 3428/55 is an important short term zone. The top of this zone is channel support. Weakness below would warrant a bearish position…then see what happens.
OPEN ACCOUNT