Re entered here based on the positive price action we saw today and yesterday .
Commodities vs SPY and QQQ still showing very low correlation , yesterday was contrary to this though , the whole market was affected by the pulling tides .
Today was a pretty important day for DBC imo though because of its expedient recovery after that gap down ...
Caution should be exercised, however, the next FOMC meeting is May 3rd and 4th, where there will likely be a larger than originally plan rate hike , which will probably affect DBC negatively. Looking at the tape before close, I saw buyers waiting in que far greater than the sellers and we were able to manage a wedge pop so back in I go .
Stop - 26.78
PT - 28.46 De risk
Commodities vs SPY and QQQ still showing very low correlation , yesterday was contrary to this though , the whole market was affected by the pulling tides .
Today was a pretty important day for DBC imo though because of its expedient recovery after that gap down ...
Caution should be exercised, however, the next FOMC meeting is May 3rd and 4th, where there will likely be a larger than originally plan rate hike , which will probably affect DBC negatively. Looking at the tape before close, I saw buyers waiting in que far greater than the sellers and we were able to manage a wedge pop so back in I go .
Stop - 26.78
PT - 28.46 De risk
Trade active:
De-risked early here with the fed meeting sold half at 28.18 and raised stop to 27.05 on balance ...
Trade closed: stop reached:
got stopped out on the balance today on the 27.05 raised stop
艾力克~