Trends and Traction: ES vs YM and sectors that matter
I scan the NQ, ES, YM as well as explain how we enter the chop in gold and crude oil and why bonds should continue to climb after rollover.
I scan the NQ, ES, YM as well as explain how we enter the chop in gold and crude oil and why bonds should continue to climb after rollover.
I’m not entirely convinced the pullback in the NQ is done, but if and when it starts shifting higher, this is going to be the first place I’ll look to trade that move.
We’ve seen a minor pullback in the indexes, and so far, not much buying to be had, but that doesn’t mean it isn’t coming. Here are the tickers I’m looking at in case we start to see a shift in momentum.
Is the trend still up? Yes. We trust our indicators to let us know when this market is losing traction.
We take a look at the trends and moves in the key futures contracts — as well as levels to watch — to start the week.
Let’s do what we do every Friday, and review the core markets and the periphery to see how things are aligned into next week.
Short week led to quite a bit of volatility in the market. We have seen this pattern before, but this time the signals are a bit different… let’s review them.
Let’s take a look at what the Dow is heading towards and where buyers could still be lurking.
Monday could bring trend-following buys in the best trends with crude oil, copper, and yen telling us that stocks are not ready to sink beyond a retracement yet.