Weekend Report for Monday, June 23, 2025
Bottom Line:
The US indices have either closed just below critical KRAs or are just above critical KRAs. These are significant inflection points from where sharp moves almost always occur.
PDF: Weekend Report_2025_06_22
VIDEO: https://youtu.be/BnVZAwK76uk
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SPX Intermediate-term Profile
The path of development of the SPX continues to follow the schematic posited several weeks ago.
SPX
Upper KRA: 6059
Lower KRAs: 5950 ; 5877-5840
RSP
Upper KRAs: 180
Lower KRA: 176; 174
NDX:
Upper KRAs: 22041
Lower KRA: 21466; 21033
DOW:
Upper KRAs: 42519
Lower KRA: 42050; 41808
RUT
Upper KRA: 2172
Lower KRA: 2135; 2092
New York Composite
Upper KRA: 20199
Lower KRAs: 19821; 19592
NYSE Data – Internals
The 10-day and 5-day MAs of NYSE advancing issues have rolled over following weeks of divergence.
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US Dollar – Weekly
No change. The US dollar appears to be breaking down in a major way.
US 10-yr Notes – Weekly
Notes are near the mid-point of a multi-year Balance Area, and are coiled in a shorter-term Balance Area.
Gold
The long-term uptrend is intact.
Crude – Weekly
Crude broke its intermediate-term downtrend in dramatic fashion. The downside level to watch is 65.24.
Bitcoin
The bull trend is firmly intact. 100747 is an important downside short-term level.
