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Dax futures 2016-07-21

The DAX has room to push modestly higher over the next few weeks before it runs into a zone of resist that may set another lower high. Here is a simplified monthly chart for perspective.

The Day Ahead 2016-07-21

I know I am being stubborn but the equity market can really use a rest before attempting higher later. And since I bring up being stubborn, crude oil would look better lower before attempting a bounce.

The Day Ahead 2016-07-20

Looks like we will finally see a new high over that from last week. I’d prefer that it be ephemeral but will have to see.

The Day Ahead 2016-07-19

Must assume that the consolidation pattern from the last two to three days will have an upside resolution if only to make a nominal new high.

The Day Ahead 2016-07-18

Probably should expect the equity indices sideways to higher today as they are for the time being disconnected from oil which is moving lower.

Dollar Index 2016-07-18

DX has been rising from a consolidation pattern and should remain bid into late next year.

US 30 Year Bond futures 2017-06-18

Continue to be on alert for a significant bond high either already set or developing.

Crude Oil futures 2016-07-18

Still expect crude to find a way lower over the next several months.

iShares Italy ETF (EWI) 2016-07-18

The Italian banks have been in the news and have been hit hard and the broader market has been dropping as well. A bounce may be due. The Italian government will likely put together some plan to restructure the banks fairly soon and the pattern and cycles support that view. [/am4show

Treat the British Pound as oversold

share price is on the verge of testing the lower support area we had mentioned in conjunction with the “vote to leave” scenario.