Stocks index futures initially started out higher this morning, then wavered. Then they gained again as President Biden renominated Jerome Powell to another term as head of the US Federal Reserve. Then they sold off on the likely prospects that the renomination would likely mean a further continuation of the cut back in asset purchases. Here is the quick survey of financial markets.
The ES, the NQ and RTY (Russell 2000) all sold off. The Dow futures ended the session higher. GOLD sold off in a significant way - and in a way consistent with the potential expanding leading diagonal in the yellow metal. This was likely in-sync with the increase in the 10-year (and other Treasury yields as see in the end block). Crude Oil rose slightly and the VIX revisited the highs.
There are ways to count "five up" in the ES/NQ, but the certainty level is low without further downward overlaps. In the ES, price hit the upper daily Bollinger Band but the reversal caused the daily slow stochastic to lose its embedded status, so a trip back to the 18-day SMA is again possible.
Have an excellent start to the evening.
TraderJoe
Dollar look very bullish almost like a 3rd wave. Looking for Q's support
ReplyDeletehttps://www.tradingview.com/chart/s4YKNAoz/
https://www.tradingview.com/x/hTfFH1rJ/
Thanks for the update ET I see Crude hit and bounced on weekly 20 ma.
Hi Bill - Can't open the first chart; says something about 'the chart layout is not yours'. I don't think you are copying the link to the published chart. Whereas the second chart opens fine. And, yes, it is in the end about the gator and the fractals.
DeleteTJ
https://www.tradingview.com/x/NNWJybRm/
DeleteNot sure what happened. GLD/SPY is below the 200 ma in a tight wedge but GLD price is diverging.
Bill -
Deletehow were you able to display SPY and GLD? Is there a "price" indicator in TV similar to Stockcharts?
When handy.
Thanks!
EurUsd (wkly, update) - some potential insights into the Dollar.
ReplyDeletehttps://www.mediafire.com/view/nu4ubdqnsn7m9rm/EuroW.PNG/file (click to sharpen)
I think we get a better buy opportunity over next 2 weeks as mutual funds make their annual distributions.
ReplyDeleteGold/Silver (2wks) - current [if interested]
ReplyDeletehttps://www.mediafire.com/view/who43mzluwdv80e/Gold-Silver.PNG/file (click to sharpen)
USD up and stocks down. Topping? Huge Top in the ZB?
ReplyDeleteIf it is this can't be good.
https://i.postimg.cc/FRC93xsd/Screenshot-12.png
ABC today? Turkey week is going to be interesting
ReplyDeleteAn aside (if interested) SPXcfd (4hr)
ReplyDeletehttps://www.mediafire.com/view/3no7yene597yz3a/4hr_3PDh.PNG/file