The ES (S&P futures) continued its overall rally through earning season.  We’ll see if we get some sideways action in the wave c resistance area once earnings season wraps up.

The  NQ has also had quite a rally taking out its recent prior swing highs into a major wave 5 resistance area.  We’ll see if that can slow the NQ’s rally.

The weekly MTPredictor gold long trade has hit its 100% initial risk line so stops there can be moved to break even for a risk free trade.  The silver long stop can also be moved to its entry now that gold has hit its initial risk line.

Oil has rallied off of wave b and is just below $100.  Watch this $100 level in oil as the Saudis have said they don’t want to see oil above the $100 level.

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

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Tags: commodities, elliott wave software, es, fibonacci trading software, forex, futures, gold trade, mtpredictor, mtpredictor market update, nq, oil, S&P, silver trade, stocks, trading

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