Key points for the day/week are Bonds. They look ready for a bounce/rally, and equities are climbing a wall of worry (head & shoulders neckline) and looks about ready slice its throat.
Pre-Market Analysis Points:
- Dollar trading higher this morning putting pressure on stocks and commodities.
- Oil looking toppy with a $90-91 price target.
- Nat gas short term is bullish but I feel it will pullback more in the coming 1-2 weeks.
- Precious metals and metals stocks are still in a clear down trend and trading lower today.
- Bonds are looking ready for a bounce with a bullish falling wedge down into a support zone.
- SP500 is still in uptrend but riding thin line and may fall hard any day here.
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