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So far, copper futures are playing out like discussed in the post last evening. Remember that to officially trigger the double bottom, copper still needs to close above 4.465 or the double bottom is not officially triggered and I would not personally carry the front run pattern into the weekend without the official trigger - Mike

Gold continues its push higher after returning to the weekly rotation zone and triggering a buy entry on Wednesday. With Gold returning to its most recent high area, I am looking to raise stops for any short term positions. On the continued push higher through the most recent highs, the next stop raise area is 3230 and the next major target cluster is 3,260 where we have a dual harmonic cluster.

For medium and longer term positions, we do have a potential double top in place but in order for it to trigger we would need to see a complete Gold collapse with a close below 2,370 to trigger a pattern. I am not expecting it but if something like that did happen, it would be a great location to trigger stops on longer term entries. If Gold trades above the 3,260 area then the double is invalidated.

Remember, even though we are very bullish on Gold, it is always helpful to analyze the market both ways to ensure that we are not overlooking any potential patterns that could unfold. The tr

Crude Oil trigger a %B buy pattern after trading down to the key harmonic cluster before Trump announced the tariff pause for 90 days. Looking for follow through to the daily rotation zone and prior support areas becoming resistance. - Mike

Gold was a %b buy on a break of yesterday's high for me. It needs to follow through with a daily close above yesterday's high. As I stated on an earlier post, I was watching for buy patterns since we pulled back to the weekly rotation zone. My first target for raising a stop on a short term trade is the 3112 area, on a close above that area, the probabilities shift for a rested of the 3170 area with a minor target of 3140.

On a break to new highs, the intermediate harmonic target is 3,230 and a major harmonic cluster is 3,260. - Mike

SPX 15 min closing update
"Binary look" into overnight and Wednesday open.

Since everything in the markets are trading off the latest tariff headline we will continue to have a lot of volatility which is why I need to depend on technical analysis to help me determine the probabilities associated with the next move. The price action yesterday was consistent with a short term capitulation bottom. We just retested the highs from yesterday and could not sustain a move above them. The key pullback area is between 5068 and 5009 for the S&P June futures. I will be watching for support between those areas, however if we close below 5k again then the probabilities shift to potentially retest Monday's lows. - Mike

The Micro 10 Year double bottom I posted last night played out nicely, all 3 targets hit. - Mike

10 Year Micro Yield futures approaching 1st target which is generally a stop reduction area for me and at this point has formed a potential double bottom. If the double bottom triggers will be watching for a more significant bounce off first target area. Double bottom might not trigger or may be invalidated before triggering. I would not be front running a pattern like this since it might be a bounce play only and may only tigger if we get a short term capitulation bottom in the stock futures. If the micro yield futures push below 3.823 then the potential double bottom is off the table. - Mike

Good Sunday Morning. The newsletter is out

-Bobby-

🎯🎯🎯👍

QQQ Daily update
We are very close to invalidating my long term secular bull market cycle. Losing $408 on QQQ and $4818 on SPX confirm that. The red bear count is in control here and only breaks if the red Minor 1 low at $457.33 is broken on a huge bull push.
I'm not liquidating any long term money (kids college, wife 401K, personal IRA's) today, but they are on a very tight leash heading into early next week.

What Does The Ichimoku Tell Us About Ethereum?

In this analysis and educational post, I am examining Ethereum while also explaining the various aspects of the tool and how they work.

The first chart shows the Tenkan-sen (in blue) and the Kijun-sen (in maroon). Price is below the two spans which is bearish, but the spans are still crossed bullish. Bearish crossovers tend to arrive very late, however.

Second chart is the Chikou span, also called the lagging span. It is projected 26 sessions in the past. The green Chikou span is looking to find support at a candlestick 26 periods ago. Passing through the candlesticks to the downside is more bearish confirmation

The third chart is the Ichimoku cloud, showing price losing the cloud as support, and it looking ready to flip bearish into the future.

All of these things are potentially negative signs for Ethereum

Off my chart from yesterday, I'm buying SHOP here for the portfolio. I think a very good chance markets have "double higher low" bottomed and I'm ready for this one. I might be early but I can hold it. I will place a stop at the March 13 low at $89. That needs to hold for me to stay in it.

Worst case scenario for stocks. Manufacturing falls into contraction territory, and prices paid INCREASED. Why do I care about manufacturing PMI? Because it has an extremely high positive correlation with the stock market. You can argue that it's not a massive part of our economy anymore, but the correlation is there... You can check it out yourself. Why do I care about prices paid by manufacturing companies, rather than consumer prices? Well, I care about both, but manufacturing prices have a very high correlation to inflation. I can explain why, but I also don't care why... the correlation is there. If the data keeps going like this (no guarantee of that), we enter a period of stagflation, the worst possible regime for stocks. This is not a reason for panic, but you need to be aware of it.

- Bobby-

NVDA reached double top target - Mike Arnold

Part of what's happening in the stock market right now is the reversal of the status quo, but not a change in the dominance of US markets, specifically the US stock market. At its core, this market will recover, and when it does, I believe it will be a multi-decade rally. I just don't think it's time for a recovery yet. More downside to come, so don't panic out of long-term holdings, but if you're still in short-term holdings, you shouldn't be.

BA Weekly update
This will be my next long entry on Monday. (I like it better than GOOG and MU anyways.) Incredible opportunity in this name the rest of this decade.