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The Inverse Head & Shoulder pattern is still very valid for the S&P 500, but we are trading below the uptrendline at 4200. Constructive technicals are still at play (but must close above 4230), leading into $GOOGL & $MSFT earnings after the bell.
Crude Oil had a nice rally, back above $100, closing around $101.50. Wise not to chase it, but it is making higher lows on a daily basis. If China's lockdown ends, combined with their continuous bid for Oil, there could be more upside to come.
Gold & Silver are back to their respective support levels, but they could not make it past resistance.
US Dollar is rising, but the Yuan did not lose any ground.
**ITS ALL ABOUT THE EARNINGS AFTER THE BELL!**
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Futures trading involves a substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
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