Bucket 2: New Trade
Just bought some FXE for a quick Bucket 2 trade. The Euro is immediate-term oversold here…time for a little pop
Dollar Index Remains Better Bid
After consolidating abobe the 79 level for a while the index finally rallied hard the past two days and by so doing has decoupled its inverse relationship to stocks for now. It's important to keep watching, although at some point the inverse relationship is likely to resume. Whether the dollar index will come down or […]
Close-Up Chart of the S&P 500
You're looking at a four day chart of the S&P 500 futures contract (the S&P 500 itself looks exactly the same). Note the downtrend line in red, should we break through there nicely we will see 1290/1300 soon. Also note the still unfilled portion of the gap from Tuesday left below (blue zone)
Morning Thoughts January 5
In the two trading sessions so far this year we have simply digested the big up-gap from Tuesday morning. Overnight tonight futures quickly dipped below yesterday's low and after a very strong ADP employment report are right now near the unchanged line compared to yesterday's close at 4PM ET. Yesterday's session was marked by strong […]