The ES opened the week @ 3750 and is trading there again ahead of the meaningful CPI number tomorrow. I’ll try to interpret the charts but remind us all that anything can happen tomorrow morning on the report. Meanwhile, Corn remains soft and Cocoa bid. Energy is taking a breath and the Treasuries appear ready for a bounce.
The volatility contraction game has been in the lead for weeks but a big part of that shifted today, and it gives a signal that’s worth making note of.
The possible collapse of FTX, one of the largest Bitcoin exchanges, has left traders worried about systemic risk in the entire financial system.
This is how I will look to trade the volatility around elections as well as where support and resistance are waiting next on the S&P futures daily chart.
While there are a handful of sectors in the market showing signs of strength, the SPX continues to be held back by lagging big-tech. Here’s what has to unfold over the next few weeks for a potential rally to take place.
For the first time this year, we’re seeing signs of the trend in the dollar ready to crack. Could this been the “green light” that bulls have been waiting for? Let’s discuss.
This morning after the opening sell-off in the S&P the volume support signaled a buy, and that was the trade of the morning. What about the afternoon sell-off? We take a look at volume, volatility, and more for this walk-through.
With the bond futures still getting crushed, I am only looking to buy dips in charts with decent hourly patterns.
Cocoa is good. Treasuries diverge so I’ll say bad. Corn looks flat out ugly. Coffee I’ll say mixed as in not bad but certainly not a great trade. Nat Gas is up there on the totem pole with Cocoa as in Wow! All of this and the ES still refuses to break, so higher there until it’s not.