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USDCAD TECHS

Stronger In a Range

AUDUSD TECHS

Weaker In A Range

US TSYS SUMMARY

Ending The Week On A Soft Note

EURJPY TECHS

Bearish Risk Growing

USDJPY TECHS

Stronger, But Still Vulnerable

US

SP500 PE Ratio vs. CPI Inflation

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  • RES 4: 112.165 High Mar 25 and the bull trigger
  • RES 3: 112.150 High Apr 8
  • RES 2: 112.110/120 High May 4, 5, and 6 / High Apr 22
  • RES 1: 112.090 20-day EMA
  • PRICE: 112.020 @ 17:00 BST May 12
  • SUP 1: 112.015 Low May 12
  • SUP 2: 112.026 61.8% retracement of the Feb 26 - Mar 25 rally
  • SUP 3: 111.993 76.4% retracement of the Feb 26 - Mar 25 rally
  • SUP 4: 111.940 Low Feb 26 ad key support

Schatz futures stalled last week at 112.110 and resistance at 112.120, Apr 22 high remains intact. The subsequent pullback has resulted in a break of 112.060, a level that provided support in March and April. The clear break strengthens a bearish case and paves the way for weakness below 112.00. On the upside, a breach of 112.110 is required to signal a reversal. Bearish!