Markets were up fractionally, with the Russel leading at .81%. Oil shot up again over 6% closing above $45. Gold and the Dollar were up while bonds were down slightly.
/ES is sitting just below its 10ma. Expecting 2015.75 and possibly gap fill at 2026 which will likely act as resistance. Also has vW to 2050.5 from Mondays excess from the crash. Watch the action at 2015 and the gap at 2026. The 50ma and 200ma are still converging. The /ES, as with all indexes, needs to push above the gap and hold. Otherwise could test lower levels again.
The Russel has retaken its 10ma. Expecting 1191.3 and possibly 1211.5 from Mondays crash excess.
Nasdaq futures has vW to 4374.
The Dow is sitting just below its 10ma.
NYSE sitting below its 10ma.
Nikkei is sitting just above its 10 ma and below its 200ma. Will need very positive price action to avoid the 10ma crossing below the 200ma.
XLF just below all ma's. Watch reaction at 10 ma. 10ma<200ma. Also watch hourly MACD which is above the zero line but its value is heading towards the zero line.
IBB is back above its 10ma and 200ma. Likely to test its 50 ma near vW target price of 380.78 if can hold above the 200ma.
The Dollar is back above its 10ma and 200ma and price is sitting just under its 50ma.. 10ma looks like it could bounce off the 200ma and head back above the 50ma. Watch this closely because the negative correlation between the dollar and stocks will start again sometime in the future, and if the dollar continues higher, stocks should go lower.
The Euro
Bonds sitting just above 50 ma. 10ma<200ma. Needs to bounce to avoid the daily MACD from falling below the zero line.
Gold sitting at its 10 and 50ma's, with the 10ma crossing back above the 50ma. $1204.7 on the radar if ma's can remain constructive.
Copper very choppy here, but looks like wants $2.42, which is right at the 50 ma.
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