**Indexes Could Go Up, Could Go Down-- Bonds Higher--Crude Taking a Bath**- Futures Weekly Review and What's Ahead

Hi Everyone,   I hope your having a nice weekend with your family and friends.  Lots has been going on, and with more ahead.. Lets jump into the charts and have a look..

ES- emini S& P 500-

Well we had a great rally after the ECB announcement this past Thursday, markets were sideways all day on Friday but if you look at the chart below we still are in a weekly up trend but there are mixed signals on the daily chart.

We have had 3 closes below the 21 ema which technically puts us in a downtrend, now I don't know for sure if we'll stay here but also with this symmetrical wedge that has been setting up, the market is coiling to explode either way.  If we do go lower things could get pretty ugly to the downside,  if we break higher, and push through the highs expect to grind higher and continue this long term trend but don't always bank that will happen here.

ZB- 30 yr bond.  

 This trade has been a great trade, now that we've pulled back to the 21 ema I would be another buyer and look to keep rolling higher and interest rates to head lower.

DX- US Dollar.

I hope you've noticed that while the euro and other currencies have gotten hammered the Dollar keeps going Higher, much Higher.  And we still have lots to go, this is a great long term swing trade to be holding onto.

GC- Gold.

If you remember this last update I said Gold very well may take a bounce and boy did we get it,  Really what we are seeing is more of a flight to quality or a hedge if you will to this massive sell off in Crude.  I would expect as more downside continues in Crude to see Gold head up to around the $1330 level before bouncing off this level and going lower. I'm still believing we see Gold much lower but as folks are loosing their shirts with Crude, people are trying to hedge their bets and be safe.

CL- Crude

We are still going lower folks regardless of what BS you've heard or not heard in the media, I'm still looking as a target around the $41 level.  There has been no end to OPEC cutting back, and places like Texas will continue to cap wells and lay off more people as its just too expensive to pull oil out of the ground, and better to wait to see prices return higher.

6S- Swiss Franc.

If you saw this on the 15th, or maybe you saw the media covering it with the Swiss Bank unpegging themselves from there 3 year agreement to the Euro and the Franc taking off over 20% higher. Well what some people don't realize is there were massive margin calls and folks waking up to there little 10 contracts short the Franc to $200,000 in the hole. I saw even large brokers like FXCM who does over 5 billion, (yes that 5 BILLION BUCKS) in trade volume a month get hammered overnite and have to borrow capital to the tune of around $350 million to cover loses from retail investors getting killed with this move.  So be careful out there folks, have stop loses, manage your trades and be smart!

have a great trading week,

-david

**Looking Bearish on Indices, Crude still pulling us down** Futures Weekly Review and What's Ahead

Hi everyone,   I hope you're having a good 2015 so far, the markets have been very volatile lately.  Let's dive into some charts:

ZB--30yr Bond; still moving higher,  what a great trade if you've been hanging on to this one.  I would still be a buyer back to the 21 ema and look to see this baby moving higher...

ES- S&P 500 emini;
Bears look to fight this one out pretty hard, I would really look for whatever way this one breaks out of this wedge.  Its anyone's call this week to see but I believe we could see much more downside if we can break lower...

DX- US Dollar;
Keeps on trending higher, this is one to hold onto at least for the rest of this year but maybe for the next 2 to 3 years possible.  As more pressure is placed on Russia, and the price of crude to be manipulated lower- look to see the Dollar staying strong and going higher!

GC-Gold:

I like Gold a little higher as its breaking out of this channel but then getting rejecting again from this tree line and heading lower,  Gold will go much lower but may take a little break and make some small gains

CL- Crude:   Look to see this train still going lower, allot of folks can't believe it but it is. Until all the buyers get flushed out, and margin called out then we can make a bottom on CL and go higher but there's still plenty buying and I look for a target @ $41.56. Places like Texas will continue to get hit hard with possible a recession, capping wells and laying thousands off as its smarter to leave the oil in the ground and wait for prices to come back. This will continue to have huge implications around the world especially with countries like putting a squeeze on Russia...  With crude about bankrupting their country and loosing half the value of their currency in a week--- Pray we don't push them into a corner and start another 'cold war'!

That's it for now...

Have a great trading week, set targets, take profits and don't be greedy!

-david