Market Cycle Outlook: December Predictions, S&P Levels, Crypto Trends, and Gold’s Setup for End November 11/27/24

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Today’s S&P Futures Outlook

Starting this holiday a bit early, I send many tanks, for the holiday season. And I will see you next Monday, subject to an occasional pithy comment in the interim.

For now the uptrend on the hourly chart of the ES, 24 hour S&P futures is holding. To keep it that way today, the ES needs to end NY trading above 6020 today. If it does that and clears 6028, the first target would then be 6050. Weekly Stock Trading Signals: 7 Buys and 9 Sells

Anything less than 6008 would suggest a momentary reversal. But it probably wouldn’t last long. There are multiple support lines upcoming, the first of which is 6000, then around 5995, then 5975. Market Cycle Outlook: December Predictions Levels and Timing

Today’s Bitcoin Outlook

In Crypto, Bitcoin has pulled back and cycle oscillators have begun to roll over from the level where they peaked last March, suggesting that an important top is forming. But there’s still an intermediate cycle projection of 102,000 that isn’t dead yet. If it holds above support at 90,000 then I’d look for that projection to be hit. If it breaks then the top is probably in for this wave. Ponzi Much? Understanding Treasury Debt and Market Fragility

Today’s Gold Outlook

Gold tested its uptrend again yesterday. So far, so good. Gold’s Setup for End November

Today’s FX Euro Outlook

The euro, EUR/USD, has broken its downtrend and cycle oscillators have triggered buy signals from an extreme extension that was last reached at the October 2023 low. The euro may rebound a bit, but would need to clear 1.06 and 1.07 to signal a new sustainable uptrend. Gold’s Setup for End November

Today’s Treasury Market Outlook

If the pullback in the 10 year Treasury yield holds below 4.25, the next target would be around 4.15-4.20.

A little hard to believe with this much supply on the way over the next week. And it won’t get better in December. Ponzi Much? Understanding Treasury Debt and Market Fragility