Euro Stoxx 50 is the weakest of the major indices this A.M.
Nikkei broke out to the upside in early Asia and rallied to its next resistance last night.
In general it takes a couple of days for a one way train to turn direction,
if it indeed is going to turn.
DAX/BUND is presently trading right into its averages and upside momentum level.
The U.S. Index spreads are all showing neutral RSI’s.
You’d like to see them overbought for a reversal of direction, although
the names and the individual Indices are overbought enough to stall out.
Mexican Peso is acting well, which is a sign of Risk On
If Trump can keep from insulting our allies for the rest of the day, Indices should
stay firm into the close.
As of now it looks like the trade will take into the New York opening to set up.
Then you could have two separate capital flows; first early direction from N.Y opening into London’s close. Second flow would be the last 30-45 minutes of the U.S. session.
TLP’s rule #1 is to not lose your backside on a Friday.
If I take the Full Moon Punt, which I’m still considering, it will be on the close via TZA and or DPK.
I do not think it will be early in the day.
I will send out a note if and when I pull the trigger.