ES-
Looking at the daily chart we are now in this descending channel pattern and unless we see some serious bulls come into play we are headed lower. We are now below the 8 and 21 ema and its a solid sell signal to load up and go short. I fully expect lots of volatility this next week
with the FED speaking Wed at this next FMOC meeting.
ZB-
Now that we've sold off pretty hard and flushed out most of the longs, look for the 30 year bond to start working its way higher, targets I like are around the 162'08 level. We should see mortgage rates get back to going lower as we make our way back higher in the notes and bonds.
GC-
Gold should head lower and test the 1141 level. Probable hang around for a bit, should bounce some from there before it continues pushing through and making lower lows...
DX-
The Dollar is shocking the world and blowing through shorts making lots of folks rich, while the euro is getting killed... I hope you're one of them if you were listening back in December 2014 when I said the trade of the year will be the dollar going higher, much higher for most of the year. I hope you're in this one as now the next target will be up to the Voodoo fireline @101.95
CL-
Wow, crude takes a dive losing 4% this past Friday, and like I've said its going lower folks. I don't care what media your listening to that says different. Look for a target of $41.15. Gas should start to come down some and stay down as we make lower lows and push beyond this $45.00 level that we closed around on Friday. Enjoy it while it last if your going to do a road trip or do some traveling.
Have a great week----- and---- happy trading!
-david
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