In last week’s note I said that the FOMC decision was set to be a pivotal one for both the indices and precious metals. Last week I think the indices did just enough to look good for this week, so this week I outline daily and weekly levels to buy/sell against.
I also continue to believe that precious metals look constructive. I was pleased that $SI/Silver futures showed relative strength last week. I believe both precious metals are about to have another astonishing move. I outline dip buys/exits underneath and breakout levels.
This week I am on watch for the start of another (!) big tech short swing. It could be one of my greatest of all time – so I am exercising patience in pulling the trigger. It’s an excellent potential setup.
$ZB/T-bond futures is also teasing us – but the setup isn’t there … yet. I outline exactly what I’m looking for there for a high probability countertrend trade.
Summary of Market Action Last Week:
· The gap up contract roll for the indices futures on Tuesday was sold off, but then we saw buying on Thursday and again on Friday. Both $ES/SPX futures and $NQ/Nasdaq futures closed green, with $RTY/small caps futures closing red as the underperformer.
· Precious metals managed to also close green. $SI/Silver futures was the relative outperformer across the board.
· $CL/Crude Oil futures soared early in the week but declined after Tuesday and closed red along with $XOP/oil equites.
Here’s how last week closed out (with contract roll):
I broadcast hourly charts with weekly and daily levels 23/5 on Discord while futures are open. I give commentary and positioning during market hours.
For the week ahead (9/21 – 9/25/26)