Spoos are into yesterdays breakdown gap. A broader view shows we’re caught between 4137.75, qtrly close, and 4068.75 ” its weekly and current Monthly breakdown level. Bonds are into the middle of nowhere. Yesterdays Whalen podcast with Bloomberg https://omny.fm/shows/the-tape/an-extended-breakdown-of-the-fed-and-banks-podcast

Pretty much everything went to an extreme within minutes of the new Globex session. Oil ran its qtrly ORL sell stops and reversed in under 4 minutes. I’ll look at the time & Sales in a bit to see if … Continue reading →

Kansas City Hard Wheat and the CBOT contract set up differently as to price. They are both approaching their life of contract .618 fibs which is a huge buy before you sell zone! With may deliveries near complete and a … Continue reading →

RBA hiked rates by .25% last night sending the Aussie higher on the crosses. This rally has taken the Aussie and its crosses to basically nowhere on varying longer term time-frames. Don’t chase, the game is tomorrow, Bruce forwarded this … Continue reading →

Spoo…4137.50 unchanged on the qtr. Yen crosses all took off after BOJ just as Yra cautioned. This is a “do not chase” the first move situation. European debt all showing ORH. Do not chase this into cloud and mvg avg … Continue reading →

It’s Wednesday and Wednesday rules apply! You’ll have plenty of opportunity tomorrow in the Indices. Keep your trading hats on. Low risk bounce level in the Spoo is in the mid 4040’s. We’ve been pondering a flush in the Gold … Continue reading →

Facebook is running the show. 232-6 will be initial retest support. Anything into 254 is a sell before you buy zone. Spoo’s need a 4112.50 print to turn up on the 50X3 There is no reaching for equities on strength … Continue reading →

Yesterday we tried to find trade location for Yra’s blog post last night. While we saw a few possible rejection levels there was nothing to hang your hat on. Today we saw big reversals in the Dollar and the crosses. … Continue reading →

Lots of moving parts this A.M. MSFT looks to gap to new yearly highs. Pay attention to back and fill. Oil getting hit into inventories. 76.30 is 50 DMA. 75.72 is the gap fill from MBS’s production cut. FX; Euro, … Continue reading →

First thing is the European debt having retraced lower and fulfilling technical work in the Italian 10″s. Bunds have a little more to go. This is occurring while the long end of our curve is in rally mode. 30 Yr. … Continue reading →