Web’s Weekly Roundup April 11, 2015 Presenter: Web Begole

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Web’s Weekly Roundup -- April 11, 2015 Analysis of /ES (S&P 500 Futures) and forecast Analysis of /TF (Russell 2000 Futures) and forecast Analysis of /CL (Crude Oil Futures) and forecast Live Q&A w/Web!

/ES Futures (S&P 500) YTD Opening Price: Current Price: High: Low: O/C Change: pts H/L Range: Notable Pattern: Value for April has been fully explored before break to upside. Will we find resistance at R1 for the month? Forecast: For the year we can see a massive consolidation pattern. Evidence of a market that doesn’t know where it’s going. Near term Targets: Upside: 2180 Downside: 1980

/TF Futures (Russell 2000) YTD Opening Price: Current Price: High: Low: O/C Change: pts H/L Range: pts Notable Pattern: April value area provided support and we continue to rise higher, closing Friday near the all time highs. Forecast: Continuing to lead the way with strength, I believe the small caps still have upside potential. Next Upside Target: 1283

/CL Futures (Crude Oil) YTD Opening Price: Current Price: High: Low: O/C Change: -4.95pts H/L Range: 14.04pts Notable Pattern: Since exploring below value mid March, we’ve been in an uptrend. Found resistance at top of April value the day before EIA numbers. Forecast: I think inside chop will continue for a while. The largest builds in 15 years seemed to have little lasting effect.

/CL Futures (Crude Oil) The past 20 years…. 7 Opening Price: Current Price: High: Low: O/C Change: -4.95pts H/L Range: 14.04pts Notable Pattern: This trendline, established in December 1999 has held through today… Forecast: New lows are not easy here, but a rally isn’t finding strength either.

Looking Ahead Overall: Gotta say: who knows anymore?! The market had little reaction to the Fed Minutes where it was noted there was disagreement about rate hikes, timing, amount, etc. For Crude Oil, the largest build in API numbers recorded in over 30 years this week, and the largest build in EIA numbers recorded in over 15 years. What did Crude do? A day of hard selling pressure followed by some decent retracement. So I’m overall neutral until something gets these markets to do *something* Small Caps look good though, go buddy go!

Q & A With Web Follow me on Live YouTube channel with /ES Levels and Market Internals Every Day the Market is Open From 9am EST – 5:15pm EST Other videos include a further discussion of value area and a demystification of the “VooDoo Lines” Search YouTube for MarketWebs and Look for this icon: