Daily Market Intelligence 2:11:21
Stocks… TSLA…203 is current pattern support with resting sell stops below. 191 is weekly support. The lowest risk buy zone is 167. XLY…62.50 is the 200 day mvg avg. XLI…the longer time frame charts show this is vulnerable for a … Continue reading
One of the main features of last Qtr were the outside reversals in the dollar againstĀ the Singapore Dollar, Aussie, Canada and Brazilian Real. These chart patterns were a reflection of Global DE-leveraging or better known as the “Risk Off Trade”. … Continue reading
Another big day trading day is setting up. Buy the breaks & Sell the rallies. Two notes of interest this A.M.: The Singapore Dollar, which has been the strongestĀ and most stable currency in the World, has also given up some … Continue reading
The yen crosses are telegraphing more risk on trading early. A weekly close over 116.94 in EUR/JPY puts in an outside reversal pattern to the upside. This area along with 123.80 in the USD/SGD ( Singapore Dollar) needs to be … Continue reading
For day-traders it will be another opportunity filled day ( pick your poison and your level wisely). Yesterday we bought the 30 year bonds with a 6 tick stop which we thought at the time was the lowest risk side … Continue reading
Red light …Green Light trading.. The Bonds aren’t breaking and the Fed seems to have the rates where they want them. My eyes just keep taking my focus to the Aussie and the 110.30 level which is THE major Fib … Continue reading
Gold…1336.40 pit Silver..27.72 pit Oil… 87.96 all sessions SPU…1279 is last weeks close…we are already way below the 1290.80 for the outside reversal daily. A close below 1267.70 finishes it off with a weekly “orlw” Dr. Nenner has a model … Continue reading