Daily Market Intelligence 2/16/23

Spoo/Bond @ ATH

I went over this ad nauseam for the ramifications obtruding the indices.

Spoo just rallied all day to nowhere.

Which market is lying to us today?

Is it the Dollar or is it the Indices.

If the Euro sustains under 106.50 the Index move today is false.

I’m very skeptical that the 2-10 move can show follow through.
If there is follow through in the 2-10 curve we can see another wiggle up.
The curve re-tested the 1979 close with an ORH day.

Tomorrow into Friday should be telling.

Stan was kind enough to share a volatility study that showed record low Vol in almost everything in the Futures.

Bottom line, I’m looking for some big March price action.

Spoo’s have potential to go 300 points from here in either direction.

We’ve delineated the setups in the room.

Until we get confirmation we are treating the Indices a s a range trade.

SLX ( steel vectors) with a risk on board makes sense.

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