Sunday, May 12, 2019

Week ending 5/10/19

The S&P has a vM to 2018.75 inside much larger vW's to 3218 and 3579.25.  Looks like it wants higher as long as it can stay above 2880.



Russel has a small vM to 1520.6 inside larger vW's to 1678.7, 1828.2, and 1927.1
Unlike the other indexes, it still has a way to go before making new highs, and nulling larger time frame vM's lower.



The Nasdaq has a vM to 6879.5 inside larger vW's to 8038 and 8571.5



The Dow Hasn't yet made new highs.  Has a VM to 24218 inside larger time frame vW's to 27089, 28181, 29814, 30844, and 32173



The XLF Still has a vM to 20.28 that is triggered.  Above 30.32 Nulls.
vW's to new all time highs are triggered.



XLF Long Term



The Dollar has been going somewhat sideways, but still grinding higher.



Gold still trading sideways.



Copper



Bonds have held strong despite the equity market rally.
They hit vW to 167 this week.  
Watch to see if turns lower or forms patterns higher.  
Higher would likely be bad for equity markets



Oil has a vM to 58.07 inside a larger time frame vW to 71.93



Lumber futures are retesting last years lows.
Needs to bounce here to avoid further selling towards 268.5,
and triggering patterns to sub $200



Soybeans has a vM to 560'6 that is triggered.