S&P 500, Energy, Gold, and Bitcoin Futures Overview from Mooranalytics.com for 1/30/23
S&P
500
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. 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 257.25. The trade above 3874.02(-42 per/hour) has
brought in 235.25 of strength. These are OFF HOLD. On
a lower timeframe basis: We held 3964.15-54.00 exhaustion with a
3963.25 low and rallied 146.00. We came
shy of exhaustion I had listed on the upside at 4117.75 with a 4109.25 high and
rolled over, although I did not have a sell suggestion against this. Decent trade below 3952.39 (+.28 per/hour
starting at 9:30am) will warn of decent pressure for 162.00 (+), but it would
be preferable to see a bounce off of this line before breaking below it added
credibility. If we break below here
decently and back above decently, look for decent strength.
Gold
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 $302.6 of
strength. The solid trade above $1,679.5
(-1 tic per/hour) put this above a major formation --we are projected upward to $80 minimum. We have attained $264.3 so far. The break
above $1,769.4 has brought in $174.4
of strength. The break above $1,860.0 warned of renewed
strength—we have seen $83.8.
These are ON HOLD. The failure below $1,959.6 (+.5 of a tic
per/hour) warned of pressure—we attained $26.6 in the (J) equivalent to that of
(G).
Bitcoin
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. These are ON HOLD. The break back above $16,275-60 has brought
in $7,805 of strength. The trade above
$17,245 (+3 per/hour) warns of continued higher trade—we have seen $6,835. The
trade above $17,935 has brought in $6,145 of strength. Trade above $25,270-350 will be an additional
sign of strength. Decent trade below
$23,435 (+16 per/hour) will put this below a steep formation that will warn of
pressure; but if we break below decently and back above decently, look for
decent short covering. Trade below
$21,795-400 will warn of pressure.
Crude Oil
(WTI)
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 OFF HOLD. We held exhaustion below with a $70.31 low
and bounced $12.35. The trade above
$79.07 projects this upward $7.20 minimum, $24.60 (+) maximum; but if we break
back below decently, look for decent pressure—this will come in at $76.95
today. These are ON HOLD. The trade
below $80.58 (+2.5 tics per/hour) warned of pressure--we finally rolled over Friday. Decent trade above $80.51-61 (+1.2 tics
per/hour) will warn of decent strength.
Decent trade above $81.97-2.06 (-.3 of a tic per/hour) will project this
upward $3.30 minimum, $8.00 (+) maximum.
Natural
Gas (G)
On a higher timeframe basis: The failure back below 8440 brought in $5.760 of pressure (in previous
contracts). The trade below 8208 warned of
decent pressure. We attained $5.528 so
far. I warned decent trade below 7188
would be a renewed sign of weakness—we came off
$4.508 tics. On 12/19 we left a
moderate bearish formation above. I
would NOTE: The trade below 5136-4993 projects this downward $2.270 minimum,
$4.770 (+) maximum, which could be seen within 3 months’ time—we have traded
$2.313 lower. On a shorter-term basis: The trade below 3016 (-2.5 tics
per/hour) has brought in 336 tics of the pressure warned about. A maintained gap higher will leave a minor
bullish reversal below. Decent trade
back above where this comes in at 2818 (-2.5 tics per/hour starting at 8:00am)
should bring in decent strength. Decent
trade above 2902 (-.7 of a tic per/hour starting at 8:00am) should bring in
additional strength. I would note that
we are holding possible exhaustion below at 2592-83 with a 2612 low, and have
bounced 133 tics.
Commodities
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any trading losses of subscribers. No representation is made, stated or
implied, that any investor will achieve results, profits, or losses, even
remotely similar to hypothetical results. Past performance is by no means
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