A.M. Look 5/27/20

ECB raises the anti with an 823 Bil stimulus package for member states.
More to come if deemed necessary.

Dollar is showing signs of giving it up against Euro.
We’ve been having these discussions with Yra ¬†for months in the room.

Softs and Meats should respond positively to a falling Dollar.
Soybeans now trading above its 50 DMA.

I’ve been stating that the catch up trade would be in the Dow & Spoo names for the past few weeks.

Spoo’s…doubt you’ll see much below 3019.
Models are up.

A general note about the Point & Figure charts.
Last week the 100X3 missed putting in a directional relief reversal by 2 points @ 2903.

Yesterday, into last night, the 50X3 did not print 2982.
This demonstrates strength.

I see nothing on the near term horizon to stop the march in Spoo/Bonds toward its 200 WMA.

This remains a market where you can not buy strength in Equities without  sitting through a lot of pain.

Mid-Week Shuffle.

Expecting a two way trade.

Below is the link to the FRA Podcast

https://youtu.be/R3QFMxao2Lg

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