MSFT I first noted the bearish double-top pattern when MSFT (Microsoft) was trading above 500, and identified several exceptionally low-risk entry points on the way down. The next target sits around 340.
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MSFT I first noted the bearish double-top pattern when MSFT (Microsoft) was trading above 500, and identified several exceptionally low-risk entry points on the way down. The next target sits around 340.
XAGUSD Note that silver bounced from its major trendline support on Monday.
Similar to gold, a break below silver's major trendline would be devastating, as we would likely see a move back into the 50s.
On the upside, 72 remains the ST resistance, as silver has struggled to break above it over the past few days. We need to see a clean break above 80 to signal more upside.
XAUUSD lifeline
SPX lifeline
CL1! BZ1!
Brent surged and then retraced from the recent highs on Thursday, as we expected.
DJII expect a bounce from 45K. A break below 45K opens the door to 42K, after which comes 38K.
VIX Volatility will explode once VIX (Cboe Volatility Index) breaks 28.
NVDA (Nvidia) is the final missing piece.
CA10Y DE10Y FR10Y GB10Y KR10Y
If SPX doesn't reclaim 6.55K by next week, we're at the onset of a much larger correction.
NDX bent its knees on Friday. Similar to SPX, if it fails to reclaim the key resistance, we’re likely to see it head much, much, much, much lower.
US30Y Yields worldwide continue to explode to the upside, as I expected. Higher oil prices for longer -> higher inflation expectations -> higher long-end yields -> lower equity multiples, especially for long-duration names.
US02Y Yields worldwide continue to explode to the upside, as I expected.
Higher oil prices for longer -> higher inflation expectations -> higher long-end yields -> lower equity multiples, especially for long-duration names such as the M7, including your favorite, NVDA (Nvidia).
HG1! Copper failed at the former box support, now turned resistance, again on Friday. Unless it reclaims the key 5.55 resistance, we should see it head lower in the coming weeks.
HSI
HSI is showing a formation similar to NVDA now, and to NDX before the breach.
JP10Y Yields worldwide, including JP10Y (Japan 10-Year Yield), continue to explode to the upside, as I expected. Higher oil prices for longer -> higher inflation expectations -> higher long-end yields -> lower equity multiples, especially for long-duration names such as the M7, including your favorite, NVDA (Nvidia).
US10Y Yields worldwide continue to explode to the upside, as I expected. Higher oil prices for longer -> higher inflation expectations -> higher long-end yields -> lower equity multiples, especially for long-duration names such as the M7, including your favorite, NVDA (Nvidia).
DXY needs to sit above 100-101 for a few days to see more upside. Should it occur, I would expect a collapse in equities.
XAGUSD Silver is showing relative strength against gold on Friday.
I expect a meaningful bounce from the trendline support.
CL1! WTI is playing catch-up to the other benchmarks, and we should continue to see convergence as the war drags on.
For now, 91 and 99-100 are acting as short-term support and resistance for WTI (CL). Unless it breaks below 91, momentum remains to the upside.
XAUUSD backtested the major trendline. If it doesn't reclaim above this trendline in the next few sessions, it'd be a confirmed bearish signal, which could lead to more downside with the next support sitting around 4.2-4.3K if 4.5k does not hold.
XAGUSD tested its major trendline yesterday as well and received a decisive bounce from the low and managed to close above the key 72 support. A retest of the low is not uncommon despite silver's technicals appearing more rosy than gold's. If gold decides to lead on the downside, silver will follow suit.