EUR/USD - There was no time for a correction. We broke directly below support at 134.81 and are now headed for the next support in the low 133 area. As we are in wave iii of 3 we should be aware, that corrections can be very shallow and supports just give away as where they warm butter...
S&P 500 - Not much to add here. I'm still looking for a serious test of support near 1,235 and more importantly 1,215.82. If support at 1,215.82 is broken we should see a continuation towards 1,158.However any break above 1,277.11 will invalidate the bearish picture and call for a move higher towards the 1,320 - 1,345 before the next pressure to the downside sets in.
Gold - Is sitting at support, but we should soon see a clear break for a test of important support at 1,735 and a break here will open up the downside for a decline towards 1,682.
Gold - Is sitting at support, but we should soon see a clear break for a test of important support at 1,735 and a break here will open up the downside for a decline towards 1,682. Only a break above 1,803 will invalidate the bearish picture for a continuation higher towards the 1,911 top.
Crude oil - The top-building process is still ongoing, but the rally since 75.06 is running out of steam and we should soon see minor support at 97.32 be broken for a more substancial test of important support at 94.85 and a break here will ensure the top for a new decline below 75.06, with support at 90.32; 87.38 and 84.44 on the way down
Crude oil - The top-building process is still ongoing, but the rally since 75.06 is running out of steam and we should soon see minor support at 97.32 be broken for a more substancial test of important support at 94.85 and a break here will ensure the top for a new decline below 75.06, with support at 90.32; 87.38 and 84.44 on the way down 
Quite a spike up in Crude Oil.
ReplyDeleteMACD, RSI, Slow stochastics.. all overbought.
MACD on 4hour-chart, negative divergence.
Final spike up?