Today begins quarterly futures contract rollover: Front-Month becomes September (U)…Volume traded will now be skewed as contacts being rolled will be split between June (M) and September (U) months. ***Note: We will continue to trade June (M) contract for remainder … Continue reading
Here are some excerpts from yesterday’s DTS: “We’ll mark the 1955 level as an “excess high” as buyers appear to be satisfied at current levels. Failure to settle price above the session’s median level (1950) gives us a solid “resistance … Continue reading
In yesterday’s DTS we highlighted that If price was able to convert 1949.50, THEN there was a 60% chance of reaching 1955.50 price target…High of Day came in at 1954.75 (TargetMaster Level1), so effectively a dead hit. Mid-Afternoon trade price … Continue reading
The current bull-run to all-time highs has me recalling the song “Train Kept a Rollin”, originated by The Yardbirds and popularized by Aerosmith. It seems that there isn’t anything that can stop this bull as bears have certainly tried without … Continue reading
Monthly Non-Farm Payroll Report is released to at 8:30 ET with consensus 213K…Prior 288K…Consensus Range: 110K – 240K. Unemployment Rate: 6.4% v 6.3%. Nonfarm payroll employment increased 288,000 in April after a 203,000 gain in March and a 222,000 increase in … Continue reading
Price has been consolidating “coiling” within a relatively tight range with an upside skew past few sessions, with an expectation of upside resolution as long as 1916 “key marker” held firm. An early successful test of this support level in … Continue reading
Markets are basically on hold awaiting the ECB rate cut decision expected on Thursday. Policy makers are reportedly debating a cut of 10-15 basis points in both the benchmark lending and deposit rates, which – for the deposit rates – would … Continue reading
Bulls were able to hang on to the upper part of yesterday’s range into settlement, but not able to advance above the Open Range. This creates a short-term high and displays some underlying weakness…With ADR (10) just 8.25 handles and … Continue reading
Recently both stocks and bonds have been moving in same direction which is atypical, since bonds are seen as defensive asset, while stocks are viewed as risk-on, and generally move in opposite directions. So recent movement has been confusing to … Continue reading
Yesterday’s key marker at 1912 held throughout most of the session until finally all the supply was absorbed, which pushed price upwards into stated price target zone between 1917 – 1918.50 into settlement. Trade opportunities were scarce as most of … Continue reading