Targets For The Week Of July 27th

Once again, the SPX finds itself at a critical juncture, testing support near a confluence of support/resistance lines and harmonic angles:

3200 is the last technical resistance level below the February highs, and is the pivot line for next week which keeps the same targets:

Daily market breadth is nearing oversold levels which suggests that a bullish reversal is not far away, and may very well coincide with end of month window dressing:

The trading signals are mixed. While there is a daily sell signal in place, the weekly signal remains bullish; it will turn bearish on a drop below 3200:

Across the board Dollar weakness lead to a surge in prices for the G5 and Gold. Even BTC is exhibiting bullish signs.

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

*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 intraday charts and update follow us on TradingView

 

Disclaimer: Futures and forex trading contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money ...

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William K. 4 years ago Member's comment

Interesting.

Bert R. 4 years ago Member's comment

Good read, thanks.