Recent Articles in US Markets

Below we show the daily S&P 500 Emini Futures which has the index now very close to the MFU-3 target we identified last month. This pattern has morphed the weekly outlook to a very bearish one where those Money Flow Unit targets supersede what we have on a daily basis.

The major U.S. indices remain in a very weak technical structure, and we would use any near-term strength to sell into.

The Q's have broken the short-term uptrend and momentum has hooked down. We show the top 10 holds of the QQQ and they are all in a vulnerable position. For those that are short, we would be adding here. The picture book is below.

We are highlighting WTI Crude Oil and the XOP to start. The one-day pullback in WTI held the uptrend off the December low and a place to add to a long position.

On February 10, we sent out the chart below of the NDX highlighting the short setting up, with the trigger being a break below 14735. The downside target based on this systematic trading system gave us a target zone of 14178-14100, and the low came in at 14184.25, close enough for government work, as they say.

In the overnight session, the NDX has broken below the 14735 to initiate a short trade on the index level. We are short here in futures with a target in the 14178 area
shown below. This is a quick heads up as to what we are seeing.

We are watcting a move to break 351 for a short trade into the 340 area.

Today's rally has the index up into the 0.618 retracement level and now reversing with the after hours trading.

Price is into the 50% retracement area and stalling. This would be a good place to start taking some of the long trade off, and more if we take out the $164 area. If we get a late day surge from here, we would still have a smaller position on.

We recently wrote up notes on the buy zones for the S&P 500 and QQQ. These indices have reversed nicely from the target zones identified in our work, and now it’s a matter of managing the trade.

Closing below last week's low in the S&P and NDX would be a negative for sure. Let's see how we open the week and go from there.

We like what appears to be a short-term bottom developing in the NDX, and we are putting on a long trade right here.

Our initial thoughts are whether or not this pullback is similar to that of Q1 2020.

We are in a tricky spot with the market holding above yesterday's low and tomorrow's Fed news with expected volatility.

Back down to the top of the MOB support band. Needs to hold above it at 341. Looking for a trade into tomorrow morning.