/ES (S&P 500 futures) made a trendline break followed by a tag & reversal off the 2460 support level. It’s hard for me to gauge the very near-term direction of the broad market right now so waiting to see how the market trades once the regular session gets underway before doing much. All charts below are 60-minute time frames.
ES 60m March 30th
Pretty much the same story on /NQ (Nasdaq 100) with a breakdown below its comparable trendline followed by a tag & reversal off the 7375 support level.
NQ 60m March 30th
/CL crude oil has been left for dead & rightfully so, with the plunge in demand & excess supply. However, with very large positive divergences continuing to build, it is more a question of WHEN vs. IF the next explosive short-covering rally will begin? Buy signals to come on a break above the 20.90 minor resistance level & then the downtrend line.
CL 60m March 30th
/ZB 30yr T-bond future has rallied to the top of this price channel with a break below the minor uptrend line and the 179’289 support likely to trigger a drop back towards the bottom of the channel.
ZB 60m March 30th
/ZN 10yr T-bond has rallied into the 139’075 R level with a break below the minor uptrend line likely to spark a correction back down to the bottom of the channel and/or 137’022 support. I have to say that while /ZB & /ZN remain in near-term uptrends for now, should both /ZB & /ZN trigger those sell signals with both going on to hit those potential downside targets, that would most likely mesh with a rally in the stock market so something to watch regarding the QQQ short trade.
ZN 60m March 30th
Positive divergences are building on /DX US Dollar futures with a breakout above the price channel (downtrend line + 99.117 R level) likely to spark a rally.
DX 60m March 30th
/BRR Bitcoin rejected on the kickback rally to the 6744 resistance level.
BRR 60m March 30th