A.M. Look 6/29/17

Complacency is back with the VIX trading into the mid 9’s.

30 yr. Futures standout with a Pit session & ADC ORL week working. Bunds & Oats show the same topping pattern.

Pit only U.S. session 30 yr….I discount this chart and default to the Daily Continuation due to the lack of data.
Inline image 1

Daily Continuation charts, do not show this pattern.

Inline image 2

30 yr. Active Daily Continuation,which vwaps September Futures as front month from the rollover, shows the ORL week.

Inline image 4

153.09, December’s semi-annual ORL, comes into play over the next 2 sessions.
The level will be pivotal going into the new qtr. on Monday.

Inline image 3

Short answer is Bonds are into support. You’d need to see sustained and closing price action below 153.09 Sunday into Monday for another leg lower.

 

EUR/JPY has come a long way. Major resistance starts @ 129.30 ish matching EURO resistance @ 114.50.

Oil has had a descent rally since I walked out the door. It’s trading from one macro level to the next.

The P&F shows this bounce needs to be digested. Leave it alone at this level.

The only thing that matters for the next 2 sessions are tomorrow’s closes.
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