The YM hit the MTPredictor wave 5 down target last week.  It then began the bounce higher off this area on its way to the wave 4 Decision Point resistance area starting at 11,600 – 12,000 area.  The markets have also followed the earnings season and options expiration tendency to move higher.  Now, we’ll see if the aforementioned resistance area holds.  If so, then we could test the lows again some time after earnings season.

There is a potential buy setup in the weekly silver chart.  We’ll see if the entry target can be reached.

The USD has pulled back into its daily wave 4 support area and could move higher again after some consolidation.

Check out the rest of this weeks analysis featuring the MTPredictor Elliott wave and Fibonacci trading software for stocks, commodities, futures and forex.

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Tags: earnings season, elliott wave, fibonacci trading software, mtpredictor, mtpredictor trading software, options expiration, silver, usd, wave 4, wave 5, YM

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