^ DXY to test yellow trendline. Watching if this holds. Break below changes short term 11500 target.
^ Bearish divergence(10Y), 2,3,7y yields alike.
^ USDJPY overbought (EUR and GBP look neutral)
Expecting turbulence ahead. Earning reports and contrarian buying. I'm less confident on a long to 11500. More optimistic about shorting if it gets there.
This is not financial advice.
Comment
⋅
^ Macro look at smart money between yields and equities. Idea taken from SpotGamma, who tweeted something similar a few weeks back.
Your target was basically reached today. Well done -- after the unexpected chop last week, it took a few more days to get there. Today, NQ futures hit 11,530, NDX cash hit 11,468 (32 pts. below tgt, close enough to call it! But I think it can go a little higher next couple days perhaps to 11,690-11,800, maybe 12,000?
MiserableToppings
⋅
@SquishTrade, Yep retraced perfectly to the .382 and got rejected. I didn't think it would go much higher, but we will see.
SquishTrade
⋅
Well done! Your analysis makes sense, and I especially like the complementary currency and yield charts.
MiserableToppings
⋅
@SquishTrade, thanks for the encouragement mate :)
SquishTrade
⋅
@SquishTrade, Nasdaq futures have ripped to 11,346, your target will be reached very soon once NDX cash session opens