GateUser-7b8514c3

$SPX update. Some more detail behind the previous post. 2 breaks of structure - suggesting the trend is weakening and a more meaningful correction could be under way. Notes on chart. $ES #US500 $SPY

#GOLD update. Since the 1630 low printed in '22, there has been higher highs and higher lows. This is a major correction, but it hasn't broken structure, yet. To break structure it would need to break below 4402. The next major pivot below that is 3886. $XAUUSD $GLD $XAU $GDX

#ASX200 update. If it closes below 8455 there is a strong case to be made for 7700-7800. $XJO #ASX

$SPX update. A close below 6580 and the case for ~5940 strengthens. #US500 $SPY $ES

#ASX200 update. There is a fair chance the $XJO rallies to 8800 and even 8930-9000, but the downside to 7780-8050 remains in scope under this scenario. Current price 8650. #ASX

$USDJPY update. 161.2 is the next target, with upside potential in this setup to 163. Longer-term I can still see 175+ in scope. $YEN $DXY #BOJ

$EURUSD update. 1.147 has been breached to the downside. The bias shifts to the correction continuing with targets at 1.12 and low-mid 1.09s. $DXY #USD $EUR

$EURUSD update. As long as it holds 1.147 (pivot high dating back to 14 April 2025) it can keep 1.24 in scope. $DXY $EUR

$USDJPY update. No change. Pushing higher towards 162-164 in the short-term. Ultimately, I see this going much higher over the medium-long term. The floor for position traders is 140, target is north of 175 #YEN #USD $DXY $JPY #BOJ

Bond volatility is up and that will squeeze leveraged bond holders. Take a look at the $MOVE index. Collateral values in repo and derivatives markets become unstable, margin calls will hurt leveraged bond holders (e.g. hedge funds) - you will see selling across asset classes.

#ASX200 update. This has been invalidated. The idea now swings short towards 8050-8120. Current price 8500. #ASX $XJO

#GOLD update. The fact that we have closed above the 4 Feb pivot (5092) suggests to me upside will resume. Low-mid 5900s and low-mid 6300s are both in scope as the next major targets to the upside. Buckle up. $GOLD $GLD $GDX $XAUUSD $XAU

$SPX update. Similar to $NDX - it is clinging on - but not looking good, the pressure to the downside is building. Unemployment nudging higher, oil exploding higher. Follow through below 6790 will build the case for 5900-6000. $ES $SPY #US500

$CL - #Crudeoil futures has achieved the next target range 84-87, and then some (strong closing at 90). I'm starting to think this might have legs to ~135-145 #OOTT #wti $xle #oil #IranWar