June 11th, 2024 ES and NQ continue to showcase bullish tendencies in the medium to long term. However, short-term momentum appears to have stalled as we await data and the FOMC Announcement. I anticipate a thin tape and possible two-way action in these markets. Regarding RTY, it remains a ‘sell the rallies’ market. Its Bollinger […]
June 10th, 2024 As we approach a busy week filled with data analysis and the FOMC Meeting, my attention is centered on the activity in RTY versus ZN. Given that ZN failed to maintain another rally and now, the RTY correlation comes back into play as it declines alongside it. This is the current narrative […]
June 7th, 2024 The labor market remains strong while bonds and stocks show weakness. Momentum, a crucial aspect in current trading, has been lost by the bulls today. With rates spiking and the Russell 2000 declining, the market is likely to stay weak. In the short term, bears may have a high to trade off […]
June 6th, 2024 The bulls currently have both the technical and macro momentum on their side. However, as the market climbs, we find ourselves in a limbo where there’s no clear support or resistance to gauge. All the bulls need to do for now is maintain their position and keep driving upwards. It’s particularly challenging […]
June 5th, 2024 The stage is set for the bulls to push back up to all-time highs. In the past few sessions, we’ve had pullbacks that have held key support. The daily Bollinger bands have stopped moving inward, we’re back up on the 5-day SM, rates are coming down, and volatility is decreasing. We’re back […]
June 4th, 2024 As 10-year yields approach monthly lows and are on the brink of testing support at 4.3%, stocks are pulling back. This is a pivotal moment for the market as stocks potentially retain their bullish momentum while rates diminish. This environment presents all the indexes (including the RTY) with a chance to rally. […]
June 3rd, 2024 Rates down, stocks up. Today, the first day of the month, markets are adding to their late-day moves on the last day of the month. With rates coming down and stocks going up, it’s not advised to fade this right now. Lower objectives in ES were met midday on Friday as I […]
May 31st, 2024 PCE gives the bulls short-term momentum back, but I think it will be met with sellers. As I’ve stated, I’m short-term bearish, long-term bullish, and the bulls just needed a little push to get going again, and maybe today was it. I don’t think so, as I still think we’re headed to […]
May 30th, 2024 Was the number good? Was the number bad? Ask two different economists, and these days you’re likely to get two different answers. That’s why we as traders focus on reactions, not what we think the numbers should do to the market. This morning, bonds got a little bounce as yields come down, […]
May 29th, 2024 Time for a rotation? Daily Bollinger Bands have now started tightening as the markets have seemingly lost momentum. Volume, Volatility, and Momentum are currently lacking, with rates inching up, not ideal for equity bulls. NQ remains the lead to the upside, while ES, YM, and RTY are losing steam, hinting at a […]