Last week our conclusion was that the SPX is heading higher. It did so in convincing fashion, and in the process it broke above the last remaining technical resistance levels below the October ’18 highs.

The Pattern Oscillator clearly illustrates the bullish backdrop behind the 2019 upswing following the December ’18 reset. At the same time, it also shows signs of a negative divergence developing just when approaching the old-time highs. This suggests the market may not be able to break above them on the first try.

Current signals*: Daily Long, Weekly Long

For Weekly Buy/Sell pivots check the TV page which gets updated on Monday.

The projected trading range for next week for SPX is 2825-2955.

Oil remains in an uptrend and was able to break above the upside weekly target on Friday.

Current signals: Daily Long, Weekly Long.

The projected trading range for Oil for next week is 60 – 66:

GOLD traded flat and remains above the January and February lows. The daily chart shows well defined bullish/bearish support/resistance levels at 1280 and 1300, which sit right in the middle of next week’s projected trading range.

Current signals: Daily Flat, Weekly Flat.

The projected trading range for Gold for next week is: 1270 – 1310:

USDCHF came to within a few pips of our upside weekly target, and then closed just below parity, which is our long-term bullish/bearish pivot.

The projected trading range for USDCHF for next week is 0.9924 – 1.006:

USDJPY remained in an uptrend and closed just above the upside weekly target.

Current signals: Daily Long, Weekly Long.

The projected trading range for USDJPY for next week is 110.5 – 112.75:

EURUSD traded flat for the week, but is flirting with disaster. It remains in a well-defined zig-zag pattern and a break below 1.12 could lead to a further 8% decline.

The projected trading range for EURUSD for next week is 1.115 – 1.13:

GBPUSD remains hostage to the Brexit  drama, while USDCAD and AUDUSD have flat-lined and are keeping their targets. We’ll resume coverage when the stalemate is broken.

*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 and data courtesy of OddsTrader, CIT for TradingView and NinjaTrader 8

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