Monday, May 6, 2019

Daily Update

S&P tested the daily trend level at 2897 and reversed higher closing at 2932. Hourly trend level is now at <HT1> and needs to be held to uptrend. Short-term cycles bottom tomorrow.

VIX traded as high as 18.8 and closed at 15.44 above both daily and weekly resistance levels.

Daily buy signal in EURUSD and sell signal in DXY futures still continue. Hourly trend level in EURUSD and DXY futures is at <EURO_HT1> and <DXY_HT1> respectively. It is possible this situation may reverse in 1-2 days unless EURUSD starts decisively trading above its daily and weekly trend resistance levels.