January 24th, 2024 Never short a dull market. The bulls have the exact environment they want to grind higher…low volatility, low volume. As the adage goes, never short a dull market, it is in full effect right now as this tape is just putting its head down and looking for higher. Today follows the same […]
January 23rd, 2024 The grind to 5k. It’s a new day, but the look is still the same. ES appears to be in grind mode higher, hugging the top of the daily Bollinger Band as it expands outward, heading towards the target of 4974 and potentially up to 5k. The NQ has a similar look […]
January 22nd, 2024 ES 5000. You always hear me talking about the three market environments: Range Expansion, Mean Reversion, and Consolidation. As of Friday’s close, we are now in Range Expansion higher, and the bulls are in control of the market. The Daily Bollinger Bands in ES are now pointing outward (which indicates range expansion), […]
January 17th, 2024 Good morning everyone, I woke this morning with a sinus infection and no internet. Unfortunately there will not be a full note from me this morning. The only thing I see that you have to keep an eye on is the 10 YR. Their weakness is hurting the market, especially the RTY. […]
January 12th, 2024 Bulls are in control. This morning, I’m heading out for our Member/Member Golf tournament here in Naples, FL. But before I head out, I wanted to share a few noteworthy items for today’s trade. Firstly, the ZN has turned neutral to slightly bullish on my charts as they have reclaimed the YTD […]
January 11th, 2024 Rates and Rates. This morning, the highly anticipated CPI beat both the headline and the core expectations. The headline was 3.4% versus the expected 3.2% and the previous 3.1%. The core was 3.9% versus the expected 3.8% and the previous 4.0%. The first aspect I analyze is the rates’ response. Why, you […]
January 10th, 2024 Russell and Rates: Currently, NQ and ES seem to be in a phase of consolidation, awaiting something to ignite a directional shift. Meanwhile, RTY and ZN (10 YR) consistently exhibit a negative bias on my charts. This correlation between RTY and ZN is sensible since if rates start to increase, the Russell […]
January 9th, 2024 A Tale of Two Tapes. On one hand, bears dominated the market in the first week of the year, while on the other hand, bulls made one of the strongest rallies in the last few months. It’s not easy to interpret when the market sways dramatically in one direction, but that’s the […]
January 8th, 2024 Get ready for a two-way tape. My first targets were hit in NQ and RTY. ES fell just short, but overall, the bears reached my initial downside targets from the start of the year. We now have a battle on our hands and I believe we’re heading towards a two-way tape. The […]
January 5th, 2024 I’m away from the trading screens this morning, so I won’t be doing any intraday trading today. Here are a few quick thoughts before we head into the weekend. The NFP numbers didn’t alter the technicals in ES, and the overnight markets further confirmed my bearish bias. I plan to maintain my […]