Tue 10th June
US stock indices continue to post gains with the Dow Jones Industrial Average taking out last nights honours by closing at an all time high. This follows from the bullish ascending triangle breakout:
The S&P500 continues from its ascending triangle breakout too. I would be expecting a test of the broken 1,900 level here BUT my expectations for tests of previous breakout levels have not been fullfilled:
The NASDAQ is moving higher too but getting back to an interesting level. It is back to near the March highs and the 4,400 level here seems like a reasonable psychological ‘Double Top’ level to watch:
The Russell 2000, small cap index, continues to post gains and it, too, will encounter possible ‘Double Top’ jitters at around the $1,210 level….. if it keeps going:
IWM: this is the Russell 200 ETF and it may also experience possible ‘Double Top’ jitters near the $120 level:
The VIX looks ripe for a reactionary move here but it hasn’t evolved as yet:
These are also worth watching as they approach key levels:
FTSE: as it approaches 7,000:
EEM: emerging markets ETF as it approaches the $45 level:
USO: The Oil ETF keeps threatening with a triangle breakout here BUT the key level to watch is the $40 level. A break and hold above this level would suggest bullish continuation.
USO weekly:
USO daily:
