Here is a quick update on the short term outlook
The Indices are bouncing nicely since their projected low and gave a short term buy signal
We can now see another test towards the last high – or even higher
Here are the upside targets and the suggested sell stops:
S&P 3370 – 3247
Nasdaq 9376 – 9076
Russell 1738 – 1619
Dow Jones 29576 – 28517
TSX 17769 – 17359
DAX 14038 – 13143
FTSE 7943 – 7339
AEX 622 – 593
VIX canceled its buy signal short term below 16.60 – keep a buy stop at 17.90
Gold cancels its buy signal – short term – below 1569
Silver is already on a sell signal from 18.05 and tested again 17.60
Copper bounced off its low and the suggested buy stop is now 2.49
Crude bounced a little but still needs a close above 53.40 to confirm a short term buy signal
Nat Gas still needs a close above 1.87 to cancel its sell signal
US Bonds and TLT reached its short term high – but still need to trade below the given levels in the last thoughts to confirm a sell signal
US 30 Year below 161.31, US 10 Year below 130.29 and TLT 143.55
Tomorrow follows the regular Thoughts – Have a good day!
© Global Macro Technical Thoughts – February 4, 2020 Tuesday
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