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