[Mtl JP]

“THEY” just wont give up the theme
–
Might
– We might see two rate cuts by the end of the year, says Wharton’s Jeremy Siegel (CNBC)

Could
– (Reuters) – The Federal Reserve could start interest-rate cuts as early as its late-July meeting, traders bet on Thursday, after a government report showed producer prices in March rose a bit less than expected. …/..

And with that peasants feel free to place their bet(s)

[GVI Forex]

XAUUSD DAILY CHART – ANOTHER RECORD HIGH

If you look at a daily chart you would just call it a short-lived correlation before setting another record high.

If you were watching the sharp move up on US bond yields you might have expected a deeper retracement.

Whatever the case, XAUUSD is back in unchartered waters with 2400 probably the next target in the ansebce of any resistance pther than the new high.

On this chart, a move back below 2319 would be needed to negate the risk.

For those using The Amazing Trader, this is a clear ladder-up pattern with 2319 the last red line before a new high.

[SF Monedge]

Any interest in selling June USD futures at 105.36 is cancelled until further notice

[Belgrade Bobby]

Oh no Monedge 😀 I am just way tired….it is evening here 🙂 I’ll start from tomorrow mid europe

[SF Monedge]

Bobby are you out there lol?  I know you are making sure you say good trades

[SF Monedge]

Per my colleuges… SP500 June e-mini futures are rallying back toward a Seller-controlled top at 5300 …

[SF Monedge]

I believe our post from 6:14 PM Pst applies.

[SF Monedge]

repeating earlier email – buying June 10yr futures under 108′

[SF Monedge]

10 year analasis pending, give it a minute or two….

[SF Monedge]

Some days you wake up not wanting to talk with anybody and you get responsible and all heck breaks loose lol.  Be positive.

[SF Monedge]

Why does that matter?  See posts below.  Correlations.

[SF Monedge]

My colleagues are of the position that the option profile still suggests June Gold futures are no longer bullish above 2350  …

[SF Monedge]

Dxy 104.20 held, we are looking at 106.50 potentially.  That is the score unless something unsettles markets…..

[SF Monedge]

Taking the 60 onthe Sterling short from yesterday here only because Eur is hitting a figure.

[SF Monedge]

My colleagues believe Yen June futures are forming a tradeable low under .6600;  June Euro futures remain seller controlled for now.  Also, Option Profile still suggests June Gold futures are no longer bullish above 2350.

[SF Monedge]

It might sound silly to some, but having 30 years of experience in this.  Trading in my pajamas at 3am and years later running bank money.  Pick your favorite songs while trading even if people have a problem with it.  It works lol.

[GVI Forex]

US 30 year bond auctioned, stocks poppimg, taking a little shine off the dollar

[SF Monedge]

So what does that matter with currencies you ask?  I asked so many times we lost count.  Australian Dollar tends to move with Gold and Canadian Dollar tends to react with Oil.  But it is not a perfect correlation.  There is only one true correlation.  Elevate your sense of markets.  For example, when I was a CTA I would pull up Reuters front page first thing just to gauge the MOOD out there.  Some people call that juvenile, but guess what, they apologize to you years later.  Ultimately you have to make decisions.  And everyone is on the hook.  I found if you are not having fun, you are missing some things.  When it gets fun, you are making money, but do not get arrogant.  Always accept input.  It is your choice of who or what to listen to.  Don’t let the animated shock jockies touting 100000000000000 % gains fool you.  I worked with some of them.  Half ended up in handcuffs in major banks.  Your trading has to be pure.  You have to know you can.  You have to feel you can.  And you have to do it right.  Then it gets good.

[SF Monedge]

I warned you Peyton Manning will arrive if you encourage me lol – My colleagues feel there is a tradeable top in Crude Oil – and have been selling September Crude futures above $83

[SF Monedge]

Bobby based on your charting I am considering long EU here even though I hate it lol.  US$ has legs so it would be counter-intuitive.  I like the sell side overall.  Market has to prove me wrong.

[Author]

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