Subscriber Daily Trading Tracker Update

Equities see changes with this weekly close

Let’s first take a look at the technical charts here, first up Crude Oil, as we suspected, $71 held on the downside and now this will remain initial support. We have weekly resistance levels updated and the bull/bear pivot moves to $69.50:

The SP500 futures have hit a snag on the weekly and we will continue to see pressure here until we get a close above 6095:

As far as the Nasdaq futures, same deal, we expect better sellers now unless we can get a close above 22100:

Real quickly looking at the QQQ ETF, we warned of a failure at these levels and a weekly close below the prior trend wedge which will hit if we close below 530, the QQQ closed at 528 and thus we are moving into a more defensive tone here:

Ok the last chart is Gold which continues to power ahead, longer term historical fair value resides somewhere north around $4100 so that is our base case target for this bull run:

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