It put a smile on my face Bobby. I can’t stand that clown Johnathan Ferro on Bloomberg, it went South as soon as he became lead in the morning, all I can stand is the Asian session in Bloomberg anymore just because of him lol. Until Chenali comes on in NY proper then its great, she is former Goldman and strong. The biggest loss I ever took was following the advice of the treasuries guy on Cnbc years ago lol. Might it be advisable to listen to them but factor in imperfection?
Bobby – as I mentioned earlier covered calls fell off of a cliff this morning. That either amounts to everyone getting out or letting them go naked on an uphill run. If you look as the relation with spot in simple technical terms that anyone can understand, Dxy is holding with rates which supports the idea stocks are not as happy as they seem. We had a strong close on 4/11 that turned into a pump and dump lasting six days. Also S/P options did not clear Fridays high mark so not sold on the hoopla at this point.
S&P 500 climbs nearly 1% to end the six-day losing streak
Closing changes on the day:
· S&P 500 up 0.8%
· DJIA +0.7%
· Russell 2000 +1.1%
· Nasdaq Comp +1.0%
· Toronto TSX Comp +0.3%
I had to take a look – such a hysteria that started probably with Bloomberg and then whole net took it over.
It is all in the title, isn’t it ?? Well NO !
I would use some nice words to explain this , but I am warned to stay away from profanity , so I’ll just show you Daily and Weekly chart of S&P 500.
Does this look Bullish to any of you ??? Honestly….don’t be shy…
I can see the possibility to try for the double top …maybe 5.200, and then 4.600 here we come.
So much fake news, false information and paid advertisements ….
AUDJPY 4 HOUR CHART —
AUDJOY is back in familiar territory after last week’s phantom spike to the downside.
On this chart, expect support as long as it trades above .99.00 but would need to clear 100.01 to put the key 100.80 resistance in play.
Note AUDJPY has moved up mainly on the bounce in AUDUSD while USDJPY has barely moved.
This is an e3xmaple pof using crosses to trade spot and following the path of least resistance with USDJOY still reluctant to challenge 155.
Bonds are experiencing a bit of moderate pushback on the attempt to catch wind that has been in play since 4/16 (US). The bid has held since but with this pullback I am paying special attention to the 20yr Index currently at 90.21 and looking like it might test sub-90 and in my view if 89.70 holds we would see yields drop and the Euro as well. I like to pay attention to a group of things because sometimes you get a little “heads up.” A bit of an inflection point starting this week. Just some added input. You know what my position is on Usd.
JP – Regarding your:
April 22, 2024 at 9:37 am
Trading THEME , week of april 22
–
Correctly identify the degree of difference in the messaging on interest rates from ECB and the Fed AND how much traction that theme has with players and you ll have your “go with” or “go against” trade bias
———————————————————————————-
JP it seems to me that ECB wants to start cutting but is apprehensive and waiting for the FED to work in unison. They are communist after all so they like herd mentality.
© 2024 Global View