From My Analyst Desk…




Summary

The Dow Future is higher 156 points to 20570. The US Dollar Index softened 0.10 points to 100.30. Gold has eased 3.26 dollars to 1287.93. Silver is dropping 0.1120 dollars to 18.4865. The Dow Industrials gained 183.67 points, at 20636.92, while the S&P 500 advanced 20.06 points, last seen at 2349.01. The Nasdaq Composite gained 49.95 points to 5855.10.

 

 

Currencies

 

Currencies Snapshot

Symbol

Last

Change

%

U.S $ INDEX

100.30

-0.10

-0.10%

POWERSHARES DB US DOLLAR INDEX

25.9150

-0.0650

-0.25%

US Dollar/Canadian Dollar

1.331885

+0.001250

+0.09%

Euro/US Dollar

1.063945

+0.001765

+0.17%

JAPANESE YEN Jun 2017

0.009200

+0.000010

+0.11%

SWISS FRANC Jun 2017

0.9996

+0.0010

+0.10%

US Dollar/Hong Kong Dollar

7.772145

-0.001305

-0.02%

The June Dollar closed lower on Monday. The mid-range close sets the stage for a steady opening when Tuesday's night session begins trading. Stochastics and the RSI have turned neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 20-day moving average crossing at 100.15 would confirm that a short-term top has been posted. If June resumes the rally off March's low, March's high crossing at 102.19 is the next upside target. First resistance is the reaction high crossing at 101.66. Second resistance is March's high crossing at 102.19. First support is March's low crossing at 98.67. Second support the 62% retracement level of the 2016-2017-rally crossing at 97.41. 

The June Euro closed higher on Monday. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but are turning neutral to bullish signaling that a low might be in or is near. Closes above the 20-day moving average crossing at 107.40 would confirm that a short-term low has been posted. If June extends the decline off March's high, the reaction low crossing at 105.75 is the next downside target. First resistance is the 38% retracement level of the May-January-decline crossing at 109.34. Second resistance is the 50% retracement level of the May-January-decline crossing at 110.91. First support is the reaction low crossing at 106.15. Second support is the reaction low crossing at 105.75. 

The June British Pound closed higher on Monday as it extends the rally off last week's low. The mid-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. If June resumes the rally off March's low, February's high crossing at 1.2742 is the next upside target. If June extends last week's decline, March's low crossing at 1.2138 is the next downside target. First resistance is March's high crossing at 1.2643. Second resistance is February's high crossing at 1.2742. First support is the reaction low crossing at 1.2391. Second support is March's low crossing at 1.2138. 

The June Swiss Franc closed slightly higher on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are oversold but remain neutral to bearish signaling that sideways to lower prices are possible near-term. If June extends the decline off March's high, March's low crossing at 0.9892 is the next downside target. Closes above the 20-day moving average crossing at 1.0046 would confirm that a short-term low has been posted. First resistance is March's high crossing at 1.0242. Second resistance is November's high crossing at 1.0448. First support is last week's low crossing at 0.9945. Second support is March's low crossing at 0.9892. 

The June Canadian Dollar closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bullish signaling that sideways to higher prices are possible near-term. Closes above the 50-day moving average crossing at 75.34 would open the door for a larger-degree rally during April. Closes below the 10-day moving average crossing at 74.90 would temper the near-term friendly outlook. First resistance is the 50-day moving average crossing at 75.34. Second resistance is the reaction high crossing at 76.72. First support is the 87% retracement level of the December-January-rally crossing at 74.16. Second support is December's low crossing at 73.71. 

The June Japanese Yen closed slightly higher on Monday while extending the rally off March's low. The low-range close sets the stage for a steady to lower opening when the Tuesday's night session begins trading. Stochastics and the RSI are diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June renews the rally off March's low, the 50% retracement of the August-January-decline crossing at 0.9323 is the next upside target. Closes below the 50-day moving average crossing at 0.8936 would confirm that a short-term top has been posted. First resistance is today's high crossing at 0.9271. Second resistance is the 50% retracement of the August-January-decline crossing at 0.9323. First support is the 20-day moving average crossing at 0.9054. Second support is the 50-day moving average crossing at 0.8936. 


 

Energies

Energy Snapshot

Symbol

Last

Change

%

CRUDE OIL Jun 2017

53.20

-0.40

-0.75%

NY HARBOR ULSD HEATING OIL Jun 2017

1.6446

-0.0129

-0.78%

NATURAL GAS Jun 2017

3.252

-0.055

-1.66%

RBOB GASOLINE Jun 2017

1.7279

-0.0110

-0.63%

POWERSHARES DWA ENERGY MOMENT

45.78

+0.09

+0.20%

UNITED STATES GASOLINE

27.54

-0.17

-0.61%

May crude oil closed lower on Monday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the aforementioned rally, the reaction high crossing at 54.29 is the next upside target. Closes below the 20-day moving average crossing at 50.46 would confirm that a short-term top has been posted. First resistance is the reaction high crossing at 54.29. Second resistance is the reaction high crossing at 55.32. First support is the 10-day moving average crossing at 52.17. Second support is the 20-day moving average crossing at 50.46. 

May heating oil closed lower due to profit taking on Monday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night trading session begins. Stochastics and the RSI are overbought but are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 157.39 would confirm that a short-term top has been posted. If May extends the rally off March's low, the reaction high crossing at 169.58 is the next upside target. First resistance is last Wednesday's high crossing at 166.61. Second resistance is the reaction high crossing at 169.58. First support is the 10-day moving average crossing at 162.82. Second support is the 20-day moving average crossing at 157.39. 

May unleaded gas closed lower on Monday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bearish signaling that a short-term top might be in or is near. Closes below the 20-day moving average crossing at 168.57 would confirm that a short-term top has been posted. If May resumes the rally off March's low, the reaction high crossing at 179.46 is the next upside target. First resistance is last Wednesday's high crossing at 176.60. Second resistance is the reaction high crossing at 179.46. First support is the 50-day moving average crossing at 170.59. Second support is the 20-day moving average crossing at 168.57. 

May Henry natural gas closed lower on Monday. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 3.084 are needed to confirm that a short-term top has been posted. If May renews the rally off February's low, the reaction high crossing at 3.507 is the next upside target. First resistance is the reaction high crossing at 3.507. Second resistance is December's high crossing at 3.603. First support is the 50-day moving average crossing at 3.084. Second support is the reaction low crossing at 2.943. 


  

US Stock Index

Indexes Snapshot

Symbol

Last

Change

%

DJ 30 INDUSTRIALS

20636.92

+183.67

+0.90%

NASDAQ COMPOSITE INDEX (COMBINED)

5855.10

+49.95

+0.86%

S&P 500 CASH

2349.01

+20.06

+0.86%

SPDR S&P 500

234.49

+1.98

+0.85%

iShares RUSSELL 2000 INDEX

135.20

+1.48

+1.11%

The June NASDAQ 100 closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI remain neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below the 50-day moving average crossing at 5353.26 would open the door for a larger-degree decline during April. If June renews this year's rally into uncharted territory, upside targets will be hard to project. First resistance is April''s high crossing at 5481.25. Second resistance is unknown. First support is the 50-day moving average crossing at 5353.26. Second support is March's low crossing at 5315.00. 

The June S&P 500 closed higher due to short covering on Monday and the high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. Closes below March's low crossing at 2318.00 would open the door for a larger-degree decline near-term. If June renews the rally off March's low, the reaction high crossing at 2388.40 is the next upside target. First resistance is the reaction high crossing at 2388.40. Second resistance is March's high crossing at 2395.00. First support is March's low crossing at 2318.00. Second support is the 25% retracement level of the November-March-rally crossing at 2313.96. 

The Dow closed sharply higher on Monday as it consolidated some of its recent losses. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are neutral to bearish signaling that sideways to lower prices are possible near-term. If the Dow extends last week's decline, the 25% retracement level of the November-March-rally crossing at 20,356.83 is the next downside target. Closes above the 20-day moving average crossing at 20,652.14 are needed to confirm that a short-term low has been posted. First resistance is the reaction high crossing at 21,000.11. Second resistance is March's high crossing at 21,161.72. First support is the 25% retracement level of the November-March-rally crossing at 20,356.83. Second support is the 38% retracement level of the November-March-rally crossing at 19,920.56. 

 

 

Precious Metals

 

Metals Snapshot

Symbol

Last

Change

%

GOLD Jun 2017

1286.0

-2.5

-0.19%

SPDR GOLD SHARES

122.2101

-0.3899

-0.32%

SILVER May 2017

18.420

-0.090

-0.49%

PALLADIUM Jun 2017

788.10

-7.80

-0.98%

DIREXION DAILY GOLD MINERS BEA

24.90

+0.18

+0.73%

POWERSHARES DB PRECIOUS METALS

38.9899

-0.2001

-0.51%

June gold closed lower on Monday as it consolidates some of the rally off March's low. The low-range close sets the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If June extends the rally off March's low, the 87% retracement level of the November-January-decline crossing at 1319.30 is the next upside target. Closes below the 50-day moving average crossing at 1243.10 would confirm that a short-term top has been posted. First resistance is the 75% retracement level of the November-January-decline crossing at 1293.10. Second resistance is the 87% retracement level of the November-January-decline crossing at 1319.30. First support is the 20-day moving average crossing at 1258.30. Second support is the 50-day moving average crossing at 1243.10. 

May silver posted a key reversal down on Monday signaling a potential top has been posted with today's high. The low-range close set the stage for a steady to lower opening when Tuesday's night session begins trading. Stochastics and the RSI are overbought, diverging but remain neutral to bullish signaling that sideways to higher prices are possible near-term. If May extends the rally off March's low, November's high crossing at 19.065 is the next upside target. Closes below the 50-day moving average crossing at 17.881 would confirm that a short-term top has been posted. First resistance is today's high crossing at 18.655. Second resistance is November's high crossing at 19.065. First support is the 20-day moving average crossing at 18.076. Second support is the 50-day moving average crossing at 17.881. 

May copper closed higher on Monday. The high-range close sets the stage for a steady to higher opening when Tuesday's night session begins trading. Stochastics and the RSI are turning neutral to bullish signaling that a low might be in or is near. Closes above the 50-day moving average crossing at 266.38 is the next upside target. If May extends the decline off February's high, the 38% retracement level of the 2016-2017-rally crossing at 250.69 is the next downside target. First resistance is March's high crossing at 276.85. Second resistance is February's high crossing at 283.60. First support is last Wednesday's low crossing at 253.45. Second support is the 38% retracement level of the 2016-2017-rally crossing at 250.69. 

 

 

 

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Courtesy of ino.com

 



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