5 replies to this topic

[dTraderB]

In a tight-range market with dojis in full bloom, one has to be patient and trade what the market presents, even if this is a pittance compared with the high volatility environment of the past few months.  Please come back, Volatility! 

 

Basically, SPX 2792 has been a resistance level during the past few days and SPX 2760/65 is the strong support zone. 

 

Bearish below SPX 2792, bullish above, stand on the sidelines if bored by the going-nowhere-real-fast SPX action, or trade the NASDAQ but beware of fake rallies in an exuberant NASDAQ/RUT market that seems to be pulling in swarms of latecomers, the ones who buy from the distributors. 

 

 

[dTraderB]

Another opinion:

 

S&P Hesitates At Key Level

Posted on June 12, 2018by macromon

The S&P500 looks hesitant to take out the key  .764 Fibonacci retracement level at 2792.59 before the Fed and ECB announcements.  Note the back-to-back Doji candlesticks.

When and if the swing high of the correction at 2801.90 clears, the technical case will be for a boring summer of a slow grind to challenge the all-time high at 2872.87, which is a little over 3 percent from current levels.  The technicals don’t square with our fundamental case of what we suspect is coming to the bond market and interest rates, however.

[dTraderB]

6%  ??

 

Gundlach Sees 6% Yield in 3 Years. Anyone Else?

DoubleLine’s CIO has been prescient on Treasuries this year, but he’s all alone on his long-term view.

https://www.bloomber...ars-anyone-else

[dTraderB]

https://www.bloomber...nt-week-of-2018

 

What Happened in the World Economy’s Most Important Week of 2018 By 

Michelle Jamrisko

 and 

Samuel Potter

June 15, 2018, 3:24 AM GMT-4  Updated on  June 15, 2018, 10:46 AM GMT-4

•  
  Fed hikes, ECB declares end to bond buying, BOJ keeps stimulus
•  
  IMF’s Lagarde spots ‘clouds on the horizon’ amid trade spat

Edited by dTraderB, 15 June 2018 - 10:27 AM.

[tsharp]

The grind upward over the past week or so has been tricky, but today's break helps clarify for me what the correct lead count should be... I'm still looking for a wave-iii (blue) push up to the ~3000 range after this correction completes.  I would be looking for a low in the range of the wave-iv low of one lesser degree, which is where the fuchsia line is drawn... time will tell.

 

 

Link to chart:  https://postimg.cc/image/rpuqem3nb/

[ryanoo]

 

https://www.bloomber...nt-week-of-2018

 

What Happened in the World Economy’s Most Important Week of 2018 By 

Michelle Jamrisko

 and 

Samuel Potter

June 15, 2018, 3:24 AM GMT-4  Updated on  June 15, 2018, 10:46 AM GMT-4

•  
  Fed hikes, ECB declares end to bond buying, BOJ keeps stimulus
•  
  IMF’s Lagarde spots ‘clouds on the horizon’ amid trade spat

 

Soybean dropped over 10% since May.   US farmers will be the biggest losers in trade war with China.  I am curious about the reasons why Trump is picking this fight.  Must be the security reasons ... China is becoming too big a threat to the US hegemony. The mutual tariff was about equal in 2017.

Edited by ryanoo, 15 June 2018 - 11:45 AM.