06/06 - 06/07 DT

greenback

Let's start the new trading session with daily charts as well ...

If you are like me having been hiding in bonds recently (i.e. in bond mutual funds), you may want to pay more attention now ...

To date, we have lost almost all the gain from the end of May. I still don't see any meaningful stop sign of bleeding in both ZB and ZN, both of which are now sitting around the lower channel boundaries. If history repeats itself, the bonds often revisit the previous highs before finally changing direction. I don't know whether this time they will be different. Let's pay close attention in the next trading session to see if there will be any reduction of downward momentum.

greenback

The next task for indices bulls are to make a double bottom.
Once it's realized, the new high would be within reach ...

greenback

GC breakout was rejected. Well, not a big deal because it's in the previous battle ground.
Energy traders are still hesitated. They are not sure when the free money will trickle down there ...

greenback

EURO is doing fine, consolidation above 1.25 would be okay for bulls ...
JPY is in a major trend change or not? The red line from BOJ intervention is also right above ... we definitely need to wait for the picture to turn clearer to pull the trigger ... as I said, patience is the game for this beast ...

greenback

See you again tonight or midnight!

时时是好时

Great picture and comments. Thanks a lot!

usamonkey

MFTHT

胡同儿串子

great comments!

kdkboy

老大，昨天损失大了，前天一半的gain被该死的暴涨干掉了，今天撕目以待，看看上涨是否能够延续

bucks

nice to read all your comments

greenback

kdkboy 发表于 2012-6-6 21:48
老大，昨天损失大了，前天一半的gain被该死的暴涨干掉了，今天撕目以待，看看上涨是否能够延续

It happens ... life goes on ...

greenback

It looks like the bonds stopped bleeding at previous breakout points and the trend line ...
ZN is a bit weaker ...
If you want to bet a reversal, the stop loss is clear. However it's unclear what would be the profit target.
I'll wait for a higher low to go long in bond futures again.

greenback

So far still in the up leg ... nothing new ... we definitely need to watch the 50% level ... which is also the 23.6% level in the big picture.

greenback

EURO next S/R 1.26 ...
JPY is getting in the previous battle ground ... let's watch closely how it goes ...

greenback

I don't understand the actions in GC and CL ...
The traders no longer feel more confident in more easy money???
If so, what about indices? You have to agree GC trader sensed the easing intention first.
Let's hope these are just consolidation after the breakout.

胡同儿串子

greenback 发表于 2012-6-6 19:41
So far still in the up leg ... nothing new ... we definitely need to watch the 50% level ... which i ...

nice, thanks

kdkboy

我的broker有个有趣的功能，它的客户持有的position中，70%看好HK，50% Eur，80% 不看好australia，90%看好JP

胡同儿串子

greenback 发表于 2012-6-6 19:51
I don't understand the actions in GC and CL ...
The traders no longer feel more confident in more e ...

Today's sudden drop on GC might due to the Fed's Beige book, I won't bet on GC now since tomorrow Ben will speak at 10AM EST

greenback

kdkboy 发表于 2012-6-7 00:24
我的broker有个有趣的功能，它的客户持有的position中，70%看好HK，50% Eur，80% 不看好australia，90%看好 ...

How good are these data correlate with future/next day or week's moves? It would be nice to know ...