Last week the expectation was that the market will enter a sideways down phase. That phase ended on Thursday, and market breadth reached oversold levels once again:

This should serve as a catalyst for the next up phase, which should lead to a test of the next important SPX technical level just above 2900. This also happens to be our upside weekly price target:

The 10 Year Treasury (TLT) turned bullish mid-week, but stalled at the upside weekly target. There’s a short-term double top just below 140 and continued failure to break above that level is likely to stimulate a stronger bearish reaction on a break below 138.28:

GOLD (GLD) met heavy resistance at the upside weekly target and reversed lower. Nevertheless, the weekly uptrend is not likely to get endangered just yet:

USDCAD has been trading in a narrow range since the end of March, and keeps the same weekly targets: (UUP/FXC)

For OIL, GOLD, BTC (BITCOMP) 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

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