In the overnight & early morning trading session on the stock index futures, we had some nice follow-through on the downside to yesterday’s bear flag breakdowns on the 15-30-minute charts. I’ve revised some of the support levels/potential targets on the /NQ 60-min chart below & will post some charts of the index ETFs (SPY, QQQ, IWM) sometime after the regular session opens today. Also, /ES is trading just a hair below support so if the bulls can’t turn this thing at the open today, a continued moved down to the 2693ish level is likely.
Nice impulsive drop in /CL crude futures following yesterday’s backtest of the primary uptrend line & objective shorting opp.
/GC reversing off the 1280 support following a divergent low (60-min chart). I will follow up with additional analysis on GLD & GDX later today.
/KC coffee futrues still appear to be pounding out a bottom but ideally should remain above the 96.50ish support.