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February 15, 2022

Market Update 2/14 – Gold Breakout and Crude Resistance

Gold has broken out and the next level to focus on is 1920. This is near the June high and possible channel resistance from the channel that originates at the September low. It’s also the 2011 high. If price pulls back then support should be 1842/47. The top of this zone is the center line of the noted channel. The bottom of the zone is the top side of former trendline resistance.
February 7, 2022

Market Update 2/7 – Major USD ETF Signal

UUP (USD ETF) completed a weekly volume reversal last week! Most signals since inception of the ETF have been identified important turns in the ETF and therefore the USD in general.
February 3, 2022

Market Update 2/2 – SPX into Resistance

SPX has retraced 61.8% of the decline from the high. This is also ‘original’ trendline resistance. This is a perfect spot for at least an interim high. I’m looking lower towards 4494 or so (2022 VWAP) and possibly 4404.
January 25, 2022

Market Update 1/25 – AUDJPY Setup in FOMC

Keep an eye on AUDJPY. Monday’s low tagged the center line of the channel from the October high. The 25 line cuts through former lows and is in line with the well-defined 82.10…watch that for resistance. A break lower would target 78.84 and 76.80s, which is 2 legs down from the October high and the lower parallel of the channel. If price breaks below the center line then the underside of that line becomes resistance. Bottom line, there are solid reference points that should help return to the short side.
January 25, 2022

Market Update 1/24 – Risk Reversal Provides USDCAD Setup

USDCAD ripped into the upper parallel of the multi month bearish fork today and turned lower. Resistance is also defined by VWAP from the high and the 50 day average. Given the level, I’m looking for USDCAD to trade lower.
January 19, 2022

Market Update 1/18 – USDJPY Lower High?

USDJPY spiked above the noted line off of the September and December lows but closed just under the line. As such, I’m thinking that today’s high is a lower high within a bearish sequence from the 1/4 high. Focus remains on 112.20/50.
January 14, 2022

USDJPY Breaks Key Trendline

USDJPY broke the line off of the September and December lows. The underside of this line should provide resistance now near 114.70. Initial downside focus is the mentioned 112.20/50 zone.
January 13, 2022

Market Update 1/12 – HUGE USD Test

Make or break time for USDOLLAR! Price closed right at 8 month channel support. IF price breaks below the channel, then the objective is the channel extension which intersects the March-May line and March high at 11929 in early February. 1/11 – Pay attention to the USD indices over the next few days. The big level for USDOLLAR is about 12115. This is the trendline from the May low and September high. A break below would ‘announce’ that the USD trend is lower.
January 6, 2022

Market Update 1/5 – Cypto Breakdown

ETHUSD has broken the line described yesterday (magenta line). This line is resistance if reached near 3640. Price is testing the 200 day average now (not shown) but the more important level is probably VWAP from the May 2021 high at 3050 (see below). Bigger picture, my view is that price drops to 985 or so in a 4th wave.
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