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John Carter Futures Analysis: Indices Could Test Lows

Gold Could Run, Dollar to Trend Higher, Indices May Roll Over

Non-Farm Payrolls were released on Friday and futures moved lower, while the Dollar Index was higher. Carter thinks the DXY could take a break here, but will trend higher for 2015. The euro may move a bit higher in the near term, although trending lower for 2015. Carter also reviews the commodity-based currencies and British pound. Gold popped on the bad employment data, and Carter expects gold to run higher around the $1,260 level. In addition, gold could trigger a monthly squeeze. Silver shows a weekly squeeze on the charts, and if it fires, the metal could see over $19. The 30-year could break new highs and the 10-year also shows a nice pattern and Carter would buy on pullbacks. The soft commodities lineup for some nice day trades, including soybeans and wheat. Finally, Carter is bearish on the stock indices as they are setting up to test some lows, with the biggest concern being the transports.

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