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Whilst SP:SPX is looking healthier above its MAs, it printed a swing failure pattern (SFP) on the daily into the prior support (now resistance zone) which aligns with a swing symmetry from the news swing in early April. Price is sitting on the 61.8 fib, and is also rejecting the 100 EMA. If shorts want to take charge, this is the place to do it.

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Another day and yet another interesting euro trade. Today, EURUSD broke its uptrend line with a convincing daily candle. The broken level near 1.1270 offers a compelling short with stop above the hourly swing high. I usually prefer taking an entry near the swing 0.382 fib, but the 0.5 offers a better proposition in this configuration. My entry is GTD for 12 hours...

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OANDA:EURNZD Another interesting euro cross technical idea this evening. Rejecting from a previous daily level with a bullish engulfing on the daily. There is a suitable intra-day level near the .382 fib.

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OANDA:EURGBP Interesting technical idea on this cross. Rejecting from a previous weekly level with a pinbar on the daily. Nice intraday level at .382 fib with a good target. Will need managed on an intraday timeframe.

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Wheat futures have had an interesting short-term price action character change, with a Higher-High printing on the H1. The price action is happening on a weekly level that has formed over the last year. Seasonality also favours wheat higher in the short term, although that is not the basis of this trade idea. In anticipation of a Higher-Low forming on the H1 in...

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SPX is looking healthier above its shorter term MAs, particular with two closes above the 21 and downward trend line. There are still plenty of resistance areas ahead, including key fib levels, a gap fill, 100 and 200 down-sloping EMAs, and a swing symmetry level.

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The Yen futures (inverted from USD.JPY) are entering a multi-year resistance level. Considering the yen has arrived at this zone on one-sided trading with high momentum, a reversal trade is compelling from a market psychology perspective. As an additional non-technical confluence, there are also news rumours circulating on social media streams regarding an...

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MSTR is looking healthy above its major moving averages after forming what appears to be a developing triple bottom. If you have a bullish thesis on the price of bitcoin at its current level, MSTR is very compelling. Any longs could have a clearly defined risk in the region of the moving averages which also aligns with an untested POC and anchored VWAP from the lows.

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Crude has recently broken its multi-year support level at $67. A retracement back toward that level is probable to cap any upside. The aligning overhead previous POC, Fib, and bearish descending wedge breakout argues for further continued weakness over the medium term. The longer term target level of $45 coincides with previous resistance following the all time...