It was a weak German story last night with the Bund rallying against the DAX which is Risk Off . At some point the Bund will trade another 60 points higher. EUR/GBP was the feature in the crosses. The stand … Continue reading
XLK has an over head gap matching it’s 50 DMA A close above this level is needed for upside. Spu…need a 2702 print to turn up. Bunds have not filled their rollover gap closer to 159.30 on the upside making … Continue reading
Draghi is still speaking. The Bunds haveĀ flushed to the downside taking yields higher in the Italians and Oats. Our short end followed however the Long end is still in hover mode. Curve is flattening with the press conference. I … Continue reading
Daily Market Intelligence 11-8-17
European debt instruments expire tomorrow. Bunds…the December contract is trading at a 280 point discount to Sept. I’m looking for the initial move to be up. Trade with the buying power (ECB)
Stocks… IWM…ran the monthly ORL stops below 109.86. Sustained price action and a close below this level opens the door to 107.44 ( the qtrly ORL #). Spu’s…1958.50 filled my downside objective for this move. Price action and a close … Continue reading
Stocks… IBM…185 is the 200 DMA support. Bonds Bunds…146.30-40 is resistance. FX… EUR/JPY…price action over 140.25-30 in this cross will keep a firm undertone to the Euro. GBP/USD…167.90 is neutral for the Pound. Good above/Negative below. Commodities… Corn…needs to close … Continue reading
Stocks… Spu’s…1894 is resistance. Nasd 100…gains upside momentum over 3593 close. Midcap 400.. the 50 DMA capped it’s rally yesterday, this index will gain upside momentum closing over yesterday’s high. MVV…65 is the 50 DMA. The upside closing momentum # … Continue reading
Stocks… GOOG will be a huge market tell over the next week. It was the first bell weather tech to put in an ORL pattern, which the broader market belatedly followed. Yesterday’s low was not low enough @ 1184. 1178.50 … Continue reading
The Gilts and the Bunds have been the better performing Bond markets over the past couple of days. This has manifested itself into value traders buying the Dax. Trade location is key. Market participants are using the 8000 level to … Continue reading