US 10yr stalling at recent highsStalling at recent highs
Tech bulls want 10yr to sell off
Value/cyclical bulls want 10yr to rally
Cylical
GBP JPY - Brexit 'Deal' scenarioHello,
With current events and fresh levels looking likely on Monthly timeframes - we can see GBP & XXX major, minor pairs to see heavy movement for appreciation for Sterling.
As the UK is seeing the vaccination being used from Monday, most likely and last minute negotiations for Brexit.
If the parties can agree a deal at all, the surgence of relief will allow buyers or GBP USD and EUR USD to surge in order to high monthly highs and create a fresh zone.
Alternatively,
Where a sell scenario - expect the previous depreciated low to be the bottom out scenario.
The EU & UK, ideally want a deal - as this steadies recovery and while creates barriers, it also loosens barriers at the same time from a lobbyist perspective and in terms of acting rapidly in response to change.
Keep a look out for Key levels - where price can consolidate.
The higher timeframes show us the direction where price has a distinct probability of where price will move.
Let's await.
Many thanks,
Team Lupa
DOMINO'S 🟥 Correction into earnings may present bullish levels💬 Domino's (DPZ) has performed very well recently as delivery options were expanded and people relied on the delivery giant during COVID.
We love cheap delicious pizza, and we may fall in love with Domino's going into earnings July 16th, let's see what levels look like going into earnings for the DPZ bulls and bears alike.
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Support:
S1: The S1 orderblock at the most recent swing low is the first point of support for the bulls, we are essentially already at this level, and it would be a logical place for the bulls to hold above. That said, earnings are a ways off, so lower support may be needed.
S2: The S2 S/R flip is where price most likely finds support. It would be logical for price to remain range-bound until earnings, and this level is the one to hold if that does end up being the case.
S3: If the COVID fears get the better of the market, or if we see some unexpected DPZ FUD, then the S3 orderblock could work as a support of last resort for the bulls.
Resistance:
R1: The R1 bearish orderblock is the only real resistance to worry about here. If the bulls can send it past R1, then we are almost certainly going to make new highs. If the bears can defend R1, especially after earnings, then it is a bad look for this titan of pizza.
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Summary:
The bulls will want to hold the current range into earnings, likely by way of an ABC correction as shown on the chart. A move off S2 and above R1 into earnings or after it is ideal for the bulls.
The bears will want to defend R1 to ensure the Domino's COVID FOMO ends here.
Resources:
www.earningswhispers.com + wtop.com
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Massive Alpha To Be Found In This Chicken Spread!So this spread revolves around the simple, brutal strength that we are seeing in the economy right now. People are spending huge amounts of money on eating out right now, and given the ISM and UMCSI numbers I don't see that slowing down any time soon. Here, we pit a strong, cyclical restaurant chain specializing in chicken against a weak, defensive, consumer staples that is losing market share and in the worst spot from a macro perspective. This one's an easy winner. I was in this morning with a 3-1 R:R 40% target. Don't forget to hedge out those betas!
Cheers,
Andrew
