The collision of global markets and social mood

Friday, May 29, 2015

Friday -- Elderly Crooks, China rebound, Levels

ES Futures:
Down but yet to break any trend lines.

Zzzzzz...the usual suspects

China cratered again yet rebounded.

Wait, is this Bloomberg story true? The Usual Suspects are now older people??

EUR relative strength, CAD relative weakness. USD firm (and heard it again: "The dollar is done!")

Prices working higher, yet patterns still seem in control (suggesting lower near term).

No sooner did yesterday's comments get posted that WTI crude reversed higher and NG blew apart the 2.788 stop.

Gold still sub-1200

S&P Outlook:
I don't know if yesterday's lows hold and it probably doesn't much matter. But Tuesday's lows better -- 2099.18.

A break of 2099.18 likely puts 2067.93 in the crosshairs, while holding 2099.18 likely targets new highs.

The next Fib extension zone is the 2150 area.

Happy Shortened-Week Friday.

No comments:

Post a Comment