Forex/Futures ST for Week 5/06-5/10

greenback

As usual, let's start the new week with weekly chart ...

The last week's break out as strong. This is particularly important by looking at the weaker indices, i.e. DAX and Russell: both rebounding nicely from key S/R level or MA line. NQ also regained strength thanks to rotation into technologies, energies, materials from consumer stables, utilities, and health cares.

This up leg, i.e. a period with no more than one red weekly bar, is approaching the measured move from bottom of 2010. 100% of that is about 30 points away. Let's see whether we can get there.

We are still betting Japan, and we are also betting catch up play by DAX and NQ.

greenback

If we want to bet against bonds, the ma20 or a bit lower than it is the target for US and German bonds. JGB is still confusing, don't know what's its relation with Japanese equities.

greenback

Energies are clear, S/R levels are apparent targets.

greenback

Metals are at key S/R levels ... waiting for breakout.

greenback

Currency majors;

USD/JPY is still in the range, which is already good for equities, so 6J is only good for ST right now. Can't expect long lasting trend any more.
EURO is rejected by ma20 and still weak.
AUD's short-lived strength is gone by now.
GBP is still strong and doesn't seem to be stoppable.

greenback

Nothing much very exciting in commodities except cocoa ...

befriend

Kami

九天

谢谢绿大辛勤服务，详细介绍。

目前我对Copper有点想法。如果你也有兴趣，欢迎你来
http://www.hutong9.net/home.php? ... o=blog&id=42716
个别交流，就不打扰其它胡同居民了。

hahaa

ES

greenback

Let's take a look of the daily charts right now ...

So far equity indices are doing fine ... especially Russell is doing the best.

greenback

The concern for equity bulls are the bonds are not posed to slide yet except US 30yr ... German bund is still in the descending triangle, not in agreement with the movement of DAX.

greenback

USD is strengthening when the currency majors are testing S/R or MA20 line ...
USD/JPY is posed to try 100 the third time.

greenback

Couldn't get on with that Malware warning on HT9 ... Let's wrap up today's recap tomorrow morning with the saved files on my office computer ...
Here is the portfolio update ... The trade today is to replace PTTDX with PONDX in case a run on quality bond would happen in the coming weeks.

greenback

This is yesterday's metal recap ... still fighting S/R ...

greenback

This is yesterday's recap on energies ... got burned by strong USD?

greenback

So the strength of bonds is indeed melting across the board ...

greenback

Okay ... we are having a slow melt up even if the intraday action is quite dramatic ...
Worthy of noting is Russell and DAX, the two laggers are doing great recently, as confirmed by today's nice bull bars.

greenback

The bonds are confirming equity indices ... even the German Bund is breaking down ...

greenback

Currency majors are similar to yesterday, GBP is being rejected by the S/R. Euro remains to be weak. AUD continues its slide from ma20. JPY is being rejected by the S/R.