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Commentary from this past week includes:
The S&P 500 futures bounced off of non-fresh daily demand yesterday, went long pre-market when price pulled back to a 2 min demand zone.
Nasdaq 100 futures back in daily demand, but no longer a fresh zone, so not sure it’s going to hold.
Oil took a beating yesterday, the daily chart suggests prices will go down another $1 to the $58 – 59 level.
There is room on the 30 yr bond on the daily chart to move higher, which would mean there is room to the downside on the equity markets.
British pound remains week…I missed this 4 hr supply zone to ride the pound lower yesterday.
Slow week in equities, as real supply and demand on the S&P 500 is a bit away from current price.
On the 240 chart, the Japanese Yen is back in the middle of the range, but momentum is pointing downward.
On the Aussie Dollar…the next leg is down with a first target at the pivot low.
The Dow futures could fall another 250 points before price potentially moving higher again.
S&P 500 futures currently in between daily supply and demand as well.
Nasdaq futures currently in between daily supply and demand.
This post is my personal opinion. I’m not a financial advisor, this isn’t financial advise. Do your own research before making investment decisions.
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