8 replies to this topic

[dTraderB]

SPX above that solid strong support zone 2690/2700 is still bullish but a close below 2690 is bearish.

 

That 2690/2700 zone has been well-traversed and tested so expect the markets to find great difficulty in closing on a daily basis below that, at least for now.

 

However a pull-back can quickly morph into a reversal, taking out critical support and closing below important averages and Fib levels. 

 

I still think this is a pullback that may stop at the 2700 level but am prepared for a move much lower. 

 

WATCH THAT YIELD ! 10yr remains above 3% and the 2yr note has been rising ....

[Harapa]

Short VXX @ 36.40...3% Stop Loss...adjust to BE on 3% gain

[dTraderB]

Closed VXX long, a decent profit.

 

May attempt a short but more likely I will buy on ant pullback below 35

[dTraderB]

That was a good short trade you opened as the VXX was flatlining...

[Harapa]

Closed VXX long, a decent profit.

[dTraderB]

Technical Tuesday – Trouble at 2,728, Again!

 

"...the index is pulling back as the Dollar rises back to the top of it's range.  Eventually, one of these will break out and the other will fall – but which one will prevail?...."

 

https://www.philstoc...e-at-2728-again

[dTraderB]

Quick note:

10yr treasury up 5 basis pts to 3.054

[redfoliage2]

It looks that the adage "Sell in May and Go away" may turn out to be true for this particular year.

[dTraderB]

10yr yied soaring, now 2.08%, up by 9 basis points