SPX, Bitcoin, Gold, Oil, 10YT And G6 Targets For The Week Of May 18th

SPX is keeping the same targets for the fifth week in a row as market breadth continues bouncing between overbought/oversold levels:

This is setting up the stage for a massive breakout/breakdown once the SPX breaks out of this 300 point range. While this range-bound action is providing good short-term swing trading opportunities, the longer-term (daily/weekly) technical picture remains mixed with two long and two short signals:

OIL continues to recover nicely and it reaches and prints higher targets:

GOLD, once again, seems determined to challenge the mid-April highs:

And the same can be said about Bitcoin, although volatility is expected to subside after halving:

 

*Please note that the signals are provided for informational purposes only. They are in effect as of the close on Friday and may change as soon as the markets re-open.

Charts, signals, targets and data courtesy of OddsTrader, CIT for TradingView and NinjaTrader 8

 

For  10Y Treasury and G5 weekly targets and Buy/Sell pivots, check the TV page which gets updated ...

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Barry Glassman 4 years ago Member's comment

Scary times. I've wen to cash when all this started and plan to stay that way for a while.