Not a lot has changed in stock indices, chart-wise, and a few others in recent weeks, so refer to past charts.
Stocks have been rallying but are experiencing a pull back after Democrats announced a probe into Deutsche Bank. Bonds have also hit a small vM target price and bounced, putting pressure on the markets. Oil is forming patterns lower and lumber has hit a vW target price. We are just below vW target prices in the indices, which I think will be resistance. If we can push through them, well likely see new highs.
The S&P has formed a small vM to 2650.
Stocks have been rallying but are experiencing a pull back after Democrats announced a probe into Deutsche Bank. Bonds have also hit a small vM target price and bounced, putting pressure on the markets. Oil is forming patterns lower and lumber has hit a vW target price. We are just below vW target prices in the indices, which I think will be resistance. If we can push through them, well likely see new highs.
The S&P has formed a small vM to 2650.
Still expecting price to hit 2770.25,
and expecting that area to the 2820 area to be resistance.
If can get through that, expecting new highs.
The XLF hit vW to 26.06
vM's to 25.10 and 24.77 have formed.
vW's to 27.31 and 28.98 are triggered.
Watch for resistance at 27.31
Oil is starting to form vM's lower
to 51.74, 50.69, and 47.90
vW to 63.19 will remain intact
unless price dips below 42.36
Bonds have bounced from 158'10
and forming small vW's higher.
Also, price is about to trigger vW towards 174'05
This would likely be bad for the stock markets.
Lumber has hit vW 438.8 and filled the gap just above.
Formed a small vM to 391.9 inside a larger vW to 589.6
Needs to hold above the 420 area to avoid triggering vM to 196.1
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