The Fed Is Losing Control as Commodities Break Out ~ Monday Market Moves

S&P 500 and DXY weekly analysis

• –S&P 500 down .8% for the week
• –Forming a baby parallel channel
• –Bull flag pattern forming
• –Bias for next week is up
• –DXY down .1% for the week
• –Expect similar week with Monday decline

S&P 500 — bearish, $60k is the line

• –S&P 500 down .8% for the week
• –Forming a baby parallel channel
• –Bull flag pattern forming
• –Bias for next week is up
• –DXY down .1% for the week
• –Expect similar week with Monday decline

DXY — bearish, $60k is the line

• –DXY down .1% for the week
• –Expect similar week with Monday decline
• –VIX up 9.2% compared to last week
• –Bias for VIX next week is lower

10-year yield — bearish, $60k is the line

• –10-year yield closed at 4.97%
• –Tapping 2023 highs
• –Fed losing control
• –20-year yield at 5.39%

30-year — bearish, $60k is the line

• –30-year forming a triangle pattern
• –Expect lower next week
• –Highest interest rates in 20 years
• –Bloomberg Commodities Index up

Bloomberg Commodities Index — bullish, $60k is the line

• –Bloomberg Commodities Index up
• –Cup and handle pattern broken
• –Potential move to 190s
• –Logarithmic extension to 220

Gold — neutral, $60k is the line

• –Gold down 1.5% for the week
• –Fibonacci retracement at 4360
• –Triangle pattern forming
• –Potential move to 4,100-3950

PHYS — neutral, $60k is the line

• –PHYS down 2.2% for the week
• –Red, yellow, green lines strategy
• –Buy at 15%, 35%, 50%
• –Current position at 50%

GDX — bearish, $60k is the line

• –GDX down 2.2% for the week
• –200-day moving average support
• –Potential move to 4300

SIL — bearish, $60k is the line

• –SIL down 2.3% for the week
• –Support at 6250
• –61.8% retracement at 50-day moving average

PSLV — bearish, $60k is the line

• –PSLV down 3.5% for the week
• –Bias is down
• –Potential move to 200-day moving average

SRUUF — neutral, $60k is the line

• –SRUUF down 2.8% for the week
• –Term contracts at 96.50
• –Spot market at 6.50 discount

URNM — bearish, $60k is the line

• –URNM down 8.2% for the week
• –Head and shoulders pattern
• –Potential move to 50 bucks

WTI — bullish, $60k is the line

• –WTI up 9.6% for the week
• –Parallel channel forming
• –Potential bounce off parallel

Brent — bullish, $60k is the line

• –Brent up 8.6% for the week
• –Parallel channel forming
• –Potential bounce off parallel

XLE — bearish, $60k is the line

• –XLE up 1.7% for the week
• –RSI sloping down
• –Potential rollover

FCG — bearish, $60k is the line

Coal ETF — bearish, $60k is the line

• –Coal ETF down 3% for the week
• –Fake out on breakout
• –Potential move down

Platinum — bullish, $60k is the line

• –Platinum down 1.6% for the week
• –Parallel channel forming
• –Potential move above 200-day moving average

Palladium — bearish, $60k is the line

• –Palladium down 5.7% for the week
• –Trend line broken
• –Potential move to 1250

Nickel — bearish, $60k is the line

• –Nickel down 1.9% for the week
• –Triangle inverse head and shoulders pattern
• –Potential move down

Pick ETF — bearish, $60k is the line

• –Pick ETF down 3% for the week
• –Upward sloping parallel channel
• –Potential move down