GhostSquawk

GhostSquawk

We mentioned the inverse head and shoulder pattern on gold yesterday and noted the nested fib level at 1807 as a profit target zone. We not only hit that target but have appear to perfectly pull back into the neckline of the breakout, allowing for more position accumulation in this market. For today, watch the 1807 level again as gold tries to retest and...

GhostSquawk

The dollar index has taken a U-Turn since last Wednesday FOMC rally and complete retraced the entire move. What's next for the dollar index? Watch out for the dollar bound of the range establish from November to January as support level to the downside at 95.50. If we do catch a bid in the market, upside level to watch would be where the market recently broke...

GhostSquawk

The 10 year treasury note is on a technical descending bear wedge with a directing down trendline acting as a pivot point. As of now, we can see the treasury market breaking higher on the expectation of weaker NFP numbers, however, the treasury market is "smart money" and may often overlook short term data in favor at medium to long term fundamentals. Its going to...

GhostSquawk

As we mentioned yesterday, watch out for upside levels on the sp500 as we get a risk on bid. We did exactly just that as the index moved higher and settled into the 38% fib level from the most recent highs to the most recent lows. As of now, the market is consolidating at the highs with low liquidity and volume traded overnight. This consolidation suggests the...

GhostSquawk

Bitcoin and crypto trading has ben catching some bids as of late, following the rally in the stock market. However, we are at the doorsteps of 2 key technical points for bitcoin at 39k. Firstly we have the distinct down trendline acting as resistance and a key fib level. These two points here suggest that we are at a pivotal point for cryptos as we either break...

GhostSquawk

Crude oil has been on a massive bull run in the month of January. There seems to be a clear consensus that the market wants to test and break $90 on the heal of supply tight crunch and geological risk over Ukraine/Russia . The technical consolidation at the highs suggest the market is ready for that break out and a catalyst is immanent. Watch out for the $90 handle!

GhostSquawk

Gold has been on a wild rollercoaster ride since the FOMC meeting last Wednesday. Gold prices traded to a monthly high of 1854 before crashing back down and making a new monthly low at 1780. However, there were several key things to note about this gold selloff that we mentioned. Firstly, the new monthly low failed to close below that price on the daily candle...

GhostSquawk

Dollar index saw a large pull back on the price action since catching a bid off of the FOMC and peaking off at 97.40 handle. As of now, we have pulled back into the fib level at 96.20 and trading sentiment is very much on the heals of incoming data. As of now, downside levels to the dollar indexes would be at 96.20 and the POC zone at roughly around 96*. Upside...

GhostSquawk

The treasury markets has continue to rally from yesterdays risk on bid across all markets. No meaning levels were tested in the previous trading sessions, leaving us with weekly high/low levels has significant points of reference for todays trading session. After that, we have resistance at 129.65 to the upside and and 127.80 to the downside. Bond market is now...

GhostSquawk

Stocks caught a risk on bid yesterday due to the reversal in FED rate expectation of 50 basis points dwindling down. This help stocks to retrace the the selling in the month of January and have we have settled into the key 50% retracement from the most recent highs to the most recent lows. The fib levels have provided clear levels for us thus far and will likely...