Thinking About X & Y in CMG
CMG saw a decent rally with the rest of the market on Friday, but if its previous patterns are anything like what we’re going through now, we could be getting into some important areas of resistance.
CMG saw a decent rally with the rest of the market on Friday, but if its previous patterns are anything like what we’re going through now, we could be getting into some important areas of resistance.
Friday’s rally was nothing to shake a stick at, but does it change the overall theme of the market? I’ve got positions on both sides. Let’s review each and look at a few fresh opportunities for next week.
Powell and a strong Non Farm Payroll kick-started another violent rally and short squeeze. Where has this strength landed in the overall scope on a downtrend and what could Monday’s open tell us?
Where did today’s Powell-triggered rally land the markets … in potential correction trades, that’s where….
Trying to catch a bottom or top isn’t just about price. It’s a 3 dimensional chess board.
History doesn’t repeat itself, but it does rhyme, which is what the bonds are telling us right now.
It’s not just the data that traders have to be aware of, it’s Powell shortly after the NFP. Traders who are short — like we are — should be especially aware that Jerome Powell could start hinting at the future direction of rates. A little dovish tone and equities will not hesitate to correct higher.
Shorting rallies still. What could cause the next rally and derail the current open trades? Powell. Also, how do we trade runaway markets like gold and bonds? I’ll show you that and more in this video.