The main index keeps moving in a high and volatile range. Stock index futures dropped sharply. Last week, TCS suggested shorting MNQ near 23,740 and shorting MES near 6,490, which helped hedge downside risk.
TCS futures sharing keeps reminding: markets are created in despair (March and April), grow in hesitation (May and June), and end in madness (be very careful in Q3). We always insist: trade with a plan, wait with patience, follow the plan.
For stock index futures, there is still no clear sign of a one-way rally or crash. Markets are watching the U.S. non-farm payroll data due tomorrow before market open.
• ES strong supports: 6,375 and 6,387; rebound targets / strong resistances: 6,490 and 6,547.
• YM strong supports: 45,030 and 44,710; strong resistance: 45,800.
• NQ key level: 23,350; supports: 23,230 and 23,030; rebound targets / resistances: 23,740 and 24,060.
• RTY supports: 2,321 and 2,269; rebound target / resistance: 2,405.
On the daily chart, stock index futures are still mainly “buy near support” (overall market uptrend continues).
Gold (GC Z25)
Held support near 3,370 and rebounded to around 3,640. Trend is strongly upward. Still mainly “buy near support,” but beware of high-level swings and pullbacks. Strong supports: 3,561 and 3,503; strong resistance: 3,650.
Oil (CL V25)
Consolidating at low levels. Strategy remains “buy near support.” Support: 62.1; rebound target / resistance: 68.1.
Natural Gas (NG V25)
Rebound was blocked and pulled back sharply, found support near 2.7, then bounced. NG often moves extremely (5%-10% in one day). Strong support: 2.72; rebound target / resistance: 3.83.
Treasury Bonds (ZB Z25)
Moves are often extreme both ways. Still mainly “buy near support.” Strong supports (repeated reminders): 113’20 and 112’05; rebound target / resistance: 116’10.
US Dollar Futures
Met resistance near 100 and pulled back. Repeated reminder: take profits on long positions in non-USD currencies.
BTC Futures
Dropped as expected to the first strong support near 108,000, held there several times (repeatedly marked as “buy zone”), then rebounded near 112,500. Supports: 108,000 and 97,000 (both buy zones again). Big targets / resistances remain 116,000 and 122,000.
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