Things are starting to get dicey for the indexes and the VIX. With stimulus and vaccines around the corner, this maybe the ultimate sell the news event for the year. Currently hedging with ES1! futures and VIX longs.
RTY will soon be entering demand, from there longing it after the election fiasco seems to be an ideal bet. September low is still intact, as well as the index overall has printed a higher high since the previous August high.
Commercial accounts are currently net short on corn futures contracts (-355k contracts), while as noncommercial accounts aka, Retail traders, are net long (+411k contracts). These two positions are at extreme polarized ends of the play. Usually commercials tend to be net short on any asset but its the extremes one should keep an eye on.
Corn is currently...
Straight to the point, Dealers are accumulating DXY, going long, extreme long 90%+, while as speculators (large spec/small spec aka RETAIL traders) are extreme short. Clearly we are within a downtrend for DXY, with a potential bear flag in the making. Yet, with the knowledge of dealers being extremely long on the dollar, this could be a pattern of...
Since 2018 NKD1! has been posting diminishing returns within their market. Though, these are new times none of us have witness when it comes to new economic and monetary policy. Do we reject this trend and print yet another lower high? Or does the Japanese market breakout? What is interesting is that during the US market correction that occurred at the start of...
Potential long trade here on cattle, rejection off the 0.786 fib extension, though there is some trendline support potentially, so this can be longed on the trend, or if trend is broken, short. Be fluid, be water when trading. Limit bias and trade what you see.
As mentioned in my previous gold post, I referred to gold hitting near 2.5k by the end of the year. Here is a daily projection of the current trend of gold. We can see that a bull flag is currently in the making, meaning gold will be range-bound for the next handful of days. I am linking an image on how this pattern can be traded.
0.618 fib has been hit but is it enough to stop this bull run in gold? Does the new inflation of the dollar and political uncertainty fuel more buyers into metals? Let's get 2.5k GC by the election, or at least the .786 fib, only the market gods will tell, teehee.
RTY futures are at a pivotal point in price, looking at breakout territory. Since most of the indexes have made their new ATH. I am expecting the same in RTY, the caveat to this is that the stocks within the index need to recover, and since these stocks are small caps, it may be a little while before they recover due to economic impacts suffered by COVID....
ES is approaching a top trend-line charted from 2015, this trend-line was hit twice resulting in 2 slumps in price. Is the third time a charm for ES to hit 3530s and break out of this channel, or will we yet again slump?
With the fib extension from 2009, we see the 0.5 fib is sitting at 3535.25 where said...