S&P 500 (H)
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 this
morning. These are OFF 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
219.50. The trade above 3874.02(-42
per/hour) has brought in 161.25 of strength.
We are in a lower/medium-time frame bull structure. Today has a good likelihood of seeing range
expansion.
Gold (G)
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 by $456.6. These are ON HOLD. On a lower timeframe basis: The
break above $1,641.2 (+1 tic per/hour) has brought in $290.6 of strength. The solid trade above $1,679.5 (-1 tic
per/hour) put this above a major formation --we are projected upward of $80
minimum. We have attained $252.3 so
far. The break above $1,769.4 has
brought in $162.4 of strength. The break
above $1,860.0 warned of renewed strength—we have seen $71.8. I warned we took out exhaustion at
$1,907.1-23.3, opening up the upside to higher trade—we traded $8.5 higher
before rolling over. Decent trade below
$1,886.1 (+1 tic per/hour starting at 5:00am) should bring in decent pressure.
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 $5,450 of strength. The trade above $17,245 (+3 per/hour) warns
of continued higher trade—we have seen $4,480. The trade above $17,935 has
brought in $3,790 of strength. Trade
below $20,690-80 will warn of pressure, but will also put this down in the gap.
Crude Oil
(WTI) (H)
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 $11.86. We held exhaustion at $72.93 with a $72.74
low, which I said had the potential to start a multi-week bull structure, and
bounced $9.71. The trade above $79.07
projects this upward $8.10 minimum, $25.50 (+) maximum; but if we break back
below decently, look for decent pressure—this will come in at $78.46
today. The trade above $80.00 (-.5 of a
tic per/hour) also projects this higher; but if we fail back below decently,
look for decent pressure. This will come
in at $79.91 (-.5 of a tic per/hour starting at 8:00am).
Natural
Gas (G)
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 5102-247, 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 only saw initial strength before rolling over
and traveling down above it, but this also warned the downside may wane
temporarily, drift sideways, and then see higher trade (which is what we are
seeing). We are likely entering into a
bullish correction/trend on a lower timeframe before (if) resuming lower
trade. We came just shy of exhaustion below at 3356 with a 3384 low,
which I did not suggest buying against, as I had a fade suggestion around 3422
just above. Decent trade above 3707
(-2.6 tics per/hour starting at 8:00am) should bring in decent strength; but if
we break above here decently and back below decently, look for decent
pressure.
Commodities
trading involves a substantial degree of risk and may not be suitable for all
investors. Michael Moor does not guarantee profits and is not responsible for
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 indicative
of future results. Information provided in this newsletter is not to be deemed
as an offer or solicitation with respect to the sale or purchase of any
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report of any kind is strictly prohibited without the express written consent
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not attributable to any person or entity other than Michael Moor
