SPX, Oil, Gold And G6 Targets For The Week Of January 7

As mentioned last week, 2525 – 2550 is our primary buy/sell zone for 2019, and the SPX closed on Friday within that zone.
The overbought levels of the daily CIT bullish percent indicator correctly predicted the sideways/down phase at the beginning of the week, and once the daily and weekly trends got into sync, this resulted in the powerful  84 point rally on Friday. Currently, the weekly numbers remain oversold and this should be supportive of higher prices going forward:


The projected trading range for next week for SPX is 2400-2600.
You can follow the 2019 chart, in real-time,
After reaching our support zone of $42 in December, Oil started 2019 strong and closed on Friday 30 cents above our weekly upside target. Although it still trades below our $50 pivot level, we are willing to give it the benefit of the doubt.
Current signals*: Daily Buy, Weekly Buy.
The projected trading range for Oil for next week is 44 – 50:


Gold reached our upside weekly target on Thursday and sold off. It still managed, however, to finish the week above our weekly pivot at 1283, thus keeping its buy signal.
Current signals: Daily Buy, Weekly Buy
The projected trading range for Gold for next week is 1210 – 1370:


The flash crash on Tuesday lit the forex universe on fire. It is interesting to note, however, that all the currencies affected by the crash found support or closed the week at their lower weekly targets.
USD/JPY was hardest hit and, after an intraweek drop of more than 4.5%, managed to close on Friday just a few pips below our weekly target.
Current signals: Daily Buy, Weekly Sell
The projected trading range for USDJPY for next week is 107 – 110


LEARN AND EARN>>>GOLD SILVER TIPS

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