Stock futures rose for the week, although volume was very light due to the Christmas weekend. Thursday's action looked strong until it gave it all back at the end of the day. Oil looked strong for the week and looks like wants to test above $40 again. Copper still looking strong as well.
/ES is above it's 10ma and is testing its 50 and 200ma's. Has bullish patterns to 2132 to 2153 if can regain 50 and 200ma's. If not, 1950 and 1900 on the radar.
/TF is well below its 200ma and currently sitting between its 10 and 50ma. If can retake its 50ma, vW to 1199.6 likely. If dips below it's 10ma, 1065 on the radar,
The Nasdaq looks strongest of the majors. It's above its 10ma, and just below its 50ma. Watch to see if it can retake the 50ma, and a crossover of the 10ma above the 50ma.
The Dow has a vM to 16352 formed, and a double bottom to 18399 forming. Ma's are consolidated with the Dow below 50 and 200 ma's, and above its 10 ma.
The Nikkei didn't rally this week like U.S. majors did.
The $ is above it's 200 ma, but the 10ma and 50 ma have negative convergence. If can rally above 100.6, expecting a rally towards 106.9
Bonds consolidating between the 162 and 157 area.
Gold still has a double bottom to 1315 if can hold 1045.4, otherwise expecting 975
Oil looks like it wants to test 41.34
Copper still showing strength. 2.1646 on the radar.
XLF
IBB looking strong. vW's to 363 level triggered.
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