Dollar fund poised to rise

There are already preliminary signs of a breakout

Fishing for a natural gas low

Chart updated with additional supports

Yen ETF may have started its breakdown

Many traders will be caught on the wrong footing

How much higher can stocks reach?

We chart resistance targets for the broad NYSE Composite Index

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Some of our recent posts:

The Day Ahead: PM Edition 2020-02-25

Bonds ran up to next resist at 168^05 today and have been easing back away from it. I rate that as a possible wave [III] high with one more mild pullback and push up to finish wave (a). That said, I can't really be excited about buying a pullback as you could count the September 2019 high to early January 2020 low as a complex iv moving the fourth over to the January low at which point there are already five waves up to complete (a).

The Day Ahead: AM Edition 2020-02-25

Same general idea that I discussed on the ES chart earlier, prefer lower to create a new low while under 3255 SPX. Over 3259 SPX, odds favor the low is in and to aim higher to test 3282. From 3282 there can still be a deep drop but suspect it would be for a higher low at that point.

The Week Ahead: 2020-02-23

I'm adjusting my bond count up from the 2018 low from 'a-b' up in 'c of (a)' for a three wave move for (a) to one of an impulse, a five wave move. Note the areas I marked as 1) and 2) for the implications. I just can't go with the retrace from the August high as a wave (b) because it was so shallow which then implies it was a fourth and moving up in the late stages of 'v of (a) of ending diagonal [v]'. Minor target at 165^01 tested already, next at 167^23 though a retest of the prior is good enough. A drop back under previous resist at 162^28 would be first confirmation of falling back in the first swing of (b).

Japanese Yen Futures & ETF FXY Update

Yen appears to be accelerating lower after the minimal retrace made when I last updated this chart a few weeks ago. I'm assuming this is the early stages of (iii) of [v] or [c] down. Minor support being tested now at 0.008994 though I don't think it will be very firm. Prefer lower targets at 0.008789 or 0.008643 before a more substantial bounce.

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