Looking good on all time frames today, from the weekly bouncing off 50ema and 200ema all the way down to the 5min chart.
Simple chart with indicators from Yaka and ucsgears. May look for short entries or offer up at 49.50s
1 line says it all. That 200ema held up like a charm. With the $DX reversal and all the commodities catching a bid, are we going to see a reflation trade???
Yields are going lower. No liftoff till 2016.....
The $ZB_F is sitting at an interesting spot. I lean long given that I don't think that liftoff will happen this year and US yields will play a bit of catch up to the rest of the world.
Assuming the market doesn't completely come apart in the coming week(s), this may prove to be an interesting spot to get long. Going on the watch list....
If $TSLA can't hold the 180s it's gonna get ugly...
Not entirely sure what to make or how an actionable trade could come of this chart but, it is there........
Daily 50ema: 2026 Weekly 20ema: 2013.... todays lows With the current headwinds, I lean short. I have a hard time believing that AAPL earnings can save the entire market from the global macro issues out there.
Got a spike form the $CADUSD falling apart this week but I think it fails up here and rolls over given the slurry of negative data and the rate cut. It had a very weak close like the $ES_F that looks to be failling levels, hopefully on the back of $XLF this time as financials are also a big part of the $TXSX
I lean bearish but if the $ES_F wants to keep pushing, I think $TSLA does 213-217 well before earnings on Feb 2.
If there wasn't a major ECB decision tomorrow I would be all over this. All the pieces are acting right: $CADUSD, $GC_F, $CL_F, a rate cut from the BOC basically stating that financial institutions are not going to make more money, manufacturing is dead, employment is on the downtick, wage growth is minimal...... the list goes on.....
The ~809 target was achieved and the short pulled. 822 acted as a great pivot and the TSX 60 has rallied to the trend lines clearly in place. In the last week the $GC_F and $SI_F have given the Canadian markets the juice they while $CL_F and $NG_F haven't been giving people reasons to sell. Today, the $CADUSD has been helping with inter-listed securities getting...
With the underlying economy not looking so great due to materials, mining, energy and a real estate market that is overheated, the TSX60 is more susceptible, in my opinion, than other markets to get sold off.
Targets were in the 18s and with the action it's putting in today, the trade is now neutral. Some option plays were extremely profitable.
The entire interest rate complex provided for an insane start to the year. All the targets came in and I am back to neutral especially in the face of an ECB meeting tomorrow and funky action on the back of the "surprise" BOC rate cut. Definitely neutral for now and waiting to see if what we saw was a real failed breakout from that multi year trend or the yields...
The $CAD is has been following the rest of the commodity complexe and notably $CL1! $CL_F. There are some major structural fundamental issues. On some more strength, maybe high 86s (?) where there is a confluence of those channels, there is another major short setting up. On the other hand, if she breaks down and just can't get a bounce, short it on weakness.
Path of least resistance appears to be down although it is sitting on a major support and trend line. If I were trading it I'd be watching carefully. If it is part of my biz, I might be hedging?