S&P 500 (SPX)
On a higher timeframe basis: On 1/18/22 the break below the 4629.25 line warned of decent pressure and negated the medium-term bullish trend we were in since 3/23/20. On 8/22/22 we left a medium-term bearish reversal above, which has brought in 676.75 of pressure from the 4178.75 open. These are ON HOLD. On a lower timeframe basis: I warned of possible exhaustion at 3531.25-04.75 which had the potential to trigger a bullish correction with a minimum target of 3793.00—we held this with a 3502.00 low and have bounced 678.00, taking the target out; but the higher timeframe minimum target is 4190.50—we came just shy of this with a 4180.00 high. These are ON HOLD. I warned if the 4180.00 high held, it would likely start a bearish correction to exceed 224.00 from the high—we have seen 391.50. This is ON HOLD. The trade above 3851.94 (-.37 per/hour) warned of renewed strength—we have seen 205.75. The trade above 3874.02(-42 per/hour) has brought in 147.50 of strength. We are likely in a new lower/medium-timeframe bull structure, but have held lower timeframe exhaustion at 4023.50-30.50 with a 4021.50 high—I warned if this holds, it could facilitate a lower timeframe bearish correction against the move up, with a likely minimum target of 3939.75. Decent trade below 3880.56 (+.28 per/hour starting at 9:30am) will project this downward.
Gold (GLD)
On a higher timeframe basis: I cautioned on 8/16/18 the break above $1,179.7-$1,183.7 warned of renewed strength. We have seen $905.5. The break above $1,347.0 projected this upward $80 minimum, $320 (+) maximum. We have attained $744.2. These are OFF HOLD. We held major exhaustion at $2,071.6-93.2 with a $2,089.2 high and rolled over $46.7. We rolled over from $2,079.6 for $456.6. These are ON HOLD. On a lower timeframe basis: The break above $1,641.2 (+1 tic per/hour) has brought in $271.7 of strength. The trade above $1,667.8 (-.5 of a tic per/hour) has brought in $245.1. The solid trade above $1,679.5 (-1 tic per/hour) put this above a major formation --we are projected upward $80 minimum. We have attained $233.4 so far. We are in the third stretch of a higher timeframe bull structure. The break above $1,769.4 has brought in $143.5 of strength. The break above $1,860.0 warned of renewed strength—we have seen $52.9. I warned of possible exhaustion to contend with on the way up at $1,907.1-23.3—we held this with a $1,906.5 high and rolled over $23.7, but are now testing the upper bounds of it. Decent trade below $1,879.9 (+1 tic per/hour starting at 5:00am) should bring in decent pressure.
Bitcoin (BITCOMP)
On a higher timeframe basis: The rollover on 11/10/21 put this into a bearish trend. I warned the selloff should exceed $13,000 from the high of $69,355—we have seen $54,430 of this. We held exhaustion on a bullish correction of the move down at $59,545 and rolled over $44,620. We have come off $36,080 from the $51,005 close. On a lower timeframe basis: The trade below $34,830 put this below a significant bearish formation that projected this downward $13,000 minimum, $35,000 (+) maximum. We have attained $19,905. We held exhaustion at $25,265-495 with a $25,270 high and rolled over $10,345. We held exhaustion at $22,630 with a $22,875 high and rolled over $7,950. These are ON HOLD. The break back above $16,275-60 has brought in $2,780 of strength. The trade above $17,245 (+3 per/hour) warns of continued higher trade—we have seen $1,810. The trade above $17,935 has brought in $1,120 of strength. Trade back below $18,460-20 will warn of pressure.
Crude Oil (BNO)
On a macro basis: On 4/29/20 we left a bullish reversal below—we have seen $115.13 from that open at $15.37 in the (N). We took out a major trendline at $55.15, which warned of significant strength. We have seen $75.35. The break above $57.45-8.02 projected this upward $56 minimum, $89 (+) maximum. We attained $72.48. These are OFF HOLD. On a shorter-term basis: Trade below $119.15 brought in $49.07 of pressure. The trade below $111.00 brought in $40.92 of pressure. The trade below $97.18 projected this down $8.30 (+) maximum. These are ON HOLD. We held exhaustion below with a $70.31 low and bounced $11.19 into a lower timeframe bullish correction against the move down from $83.34. This is OFF HOLD. The trade above $76.60 warns of renewed strength. We held exhaustion at $72.70 with a $72.46 low and bounced $6.70--this has the potential to start a multi-week bull structure. Trade above $79.07 will project this upward by $8.40 minimum, and $25.80 (+) maximum. A maintained gap lower will leave a minor bearish reversal above. Today has a good likelihood of seeing range expansion.
Natural Gas (UNG)
On a higher timeframe basis: The failure back below 8440 brought in 4920 tics of pressure (in previous contracts). The trade below 8208 warned of decent pressure. I warned decent trade below 7188 would be a renewed sign of weakness—we came off 3668 tics. I would NOTE: The trade below 5136-4993 projects this downward $2.80 minimum, $5.30 (+) maximum, which could be seen within 3 month’s time—we have traded $1.690 lower. These are ON HOLD. If we break solidly back above 5075-219, this will warn of solid higher trade for weeks, likely toward 7800 (+). On a shorter-term basis: The trade above 3733 (-8 tics per/hour) warned of strength. We may have entered into a bullish correction against the move down from 6871. I warned this went out poised for pressure before (if) resuming higher trade—we came off 75 tics before short covering off the low.
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