[Mtl JP]

and bostic says
–
(Reuters) – The Federal Reserve may need to wait longer to cut interest rates because even with April’s slightly cooler inflation reading there is continued upward pressure on prices,

“We’re not past the worry point in terms of inflation getting back to our target,” Bostic said during a virtual class session with Stanford University business school students Atlanta on Thursday.

of course there is continued upward pressure on prices : inflation is cumulative einstein

[GVI Forex 2]

AUDUSD 4-HOUR CHART –

MEN

LOOK AT WHERE AUDUSD FAILED ON THE UPSIDE (ABOVE THE .6650 LEVEL), WHICH NOW BECOMES A KEY RESISTANCE.

ON THE DOWNSIDE, YOU CAN SEE ON THIS CHART WHERE KEY LEVELS IN THE .65XX LIE.

AUD SEEMS HOSTAGE TO RISK OFF AT THE MOMENT, SO HOW STOCKS TRADE NEED TO BE WATCHED FOR A CORRELATION.

CURRENT RISK IS TILTED DOWN.  BUT TO KEEP IT SIMPLE, .6600 SEEMS PIVOTAL IN DETERMINING WHETHER AUD GOES FOR .6579 AND BELOW.

 

[GVI Forex 2]

BTC 4 hour chart – on the sidelines?

BTC FAILURE TO REACH ITS RECORD HIGH HAS IT BACK BELOW 70k.

THIS HAS IT TRADING IN SORT OF A NO MAN’S LAND, ALTHOUGH THE FOCUS STAYS ON 80K AS LONG AS IT STAYS ABOVE 65K7

[SF Monedge]

The US House has passed a bill calling for a new oversight arm to regulate crypto technology.  The Securities and Exchange Commission vehemently takes the position it will allow for regulatory precedents to be thrown out and will create unestablished frameworks and vastly increased risk for investors if the technology is not regulated as securities.

The bill treats it as commodities, hence setting up a duel between the SEC and CFTC over who profits from regulating it.  It is the view of Monedge that is really all it is about.  Regulatory job security and market share.  Our experience with both bodies is the frameworks are already full of holes, are now as much an agency business growth model as a consumer protection mechanism.

Our vote is for an upgrade to the regulatory structure and a cleaning house of its management.

[Belgrade Bobby]

DJIA Index

Ugly drop – support now comes at 38.550

I don’t want to call the top, and I don’t have technical reason to do so, but just plain logic telling me that this is starting to look bad for Djia…

[Belgrade Bobby]

VIX Volatility S&P 500 Index

Lots of commotion around this Index, calls for Reversal and other End of the World expectations…

So far couldn’t reach even the first Fibo, and not to mention $15 that would give it a chance for some stabilisation .

[Belgrade Bobby]

NVIDIA Corp. (NASDAQ)

Monedge and me hit the nail on it last night – for us it was no brainer 😀

Pre market price was obviously a bargain with some discount on top of it…

$990 , $945 – as long as they hold the pressure, we can see it higher.

[Belgrade Bobby]

AMC Entertainment Holdings Inc. (NYSE)

This one is a Meme stock – Flying high and fast, dropping even faster …and maybe even deeper.

An example how amateurs can start the fire and burn in it themselves….

[Belgrade Bobby]

MDT Medtronic Plc. (NYSE)

Stocks are mostly down on NYSE, but I am picking up two types : those that had a chance to break higher and failed and those that had no chance…so no surprise…still I enjoy it 😀

[GVI Forex 2]

Stocks down … see earlier posts

[SF Monedge]

For shorter term cycles the 10yr likely has viable stall cycles possible entering the 105.40-50 area.  Anything under that I would consider somewhat increases risk.

[SF Monedge]

Monedge is not considering any stalls in the 10yr yield to be a (significant) over-reach unless the 106 area is reached.  Stalls in the 105 area would be shorter term cycles.

[GVI Forex 2]

It looks like markets are shifting to ridk iff

See my US500 post

If Nasdaq titns negative (currently +0.20%) it might sound an alarm, especially after Nividia earnings.

[Belgrade Bobby]

EURUSD Weekly

Supports at 1.08000, 1.07600 & 1.06900

Resistance at 1.08800

If this pattern continues to evolve in the right direction – Down, we are coming back to talks about Parity…

This is weekly chart and not really proper for daily trading, but you have to go back to it every now and then to be able to understand the big picture and use it for daily trades.

[michael Calif]

JP 4:25 – per Option Profile, 10yr futures are a strong BUY at 108′ (which I guess means a Top in rates around 4.51 ?)

[SF Monedge]

Yields have run out of steam.

[Mtl JP]

“50”
DLRCHF 9150 – making 3x high on the s/t charts

currently iffy IF it ll break out N as yield appaers to be unenthusiast, just wallowing

[Mtl JP]

Market (not so) Secret
Momentum:
–
Means
– enthusiasm for … x
– don’t have to spend $, energies
– can be self-feeding (fomo)
one of the easiest ways of making moolah as enthusiasm builds

until it doesn’t

[SF Monedge]

JP – the internals across markets I am watching are still bid in an array behind the scenes and keeping that 20 level in Euro holding.  The probabilities favor a crescendo but there is still the potential for it to hold.  I am going with the probabilities unless shown otherwise, and it should be after the auction.

[Mtl JP]

no recession on horizon, of course not. yellen says so
–
10-yr 4485; 2-yr 4940

doom doom doom doom

[Mtl JP]

brothers n sisters … re 4.5%
Q for today:
–
what do you think: IF yield hits 4.5% will it
a) be an instantaneous hit n run like dlryen was or
b) will it break out N and run away ?

[GVI Forex 2]

US 10-YEAR TREASURY YIELD – ALL EYES ON 4.50%

This chart shows the 10-year price (inverse with yield) as the bond hovers just below 4.50%

As you can see from this chart, this is not a major level but psychologically it is important for all markets..

[Mtl JP]

WSJ has another plum today:
–
“Anger Does a Lot More Damage to Your Body Than You Realize
We all get mad now and then. But too much anger can cause problems.”

and I say : trading opportunities for those in a cool dome

[SF Monedge]

The majority of transactions in Aussie futures spanning several month have been between 6700 and 6580.  Currently at 6630 which translates to 6623.  For this day at least the market is not yet loading up on the bid again overall in volume/futures/options but likely nearing that point soon if not tomorrow or next week (more likely) in the mid-term portfolio positioning level.

[GVI Forex 2]

US400 DAILY CHART – COULD IT BE?

Could it be that the Power of “50” works in equities as well?

This is just a CFD feed but the high was 5350.

I don’t know if this works in equities, but a move and close below 5288 would be an outside day key reversal (would then need to break 5283 as well). This may be a bridge too far so just pointing out a risk.

Your price feed may be different than this one but the patterns should be similar.

[Mtl JP]

HEARD ON THE STREET – WSJ
Washington’s Pivot on Bank Rules Could Free Up Tens of Billions
By reducing additional capital requirements, banks would be freer to reward shareholders and clients.

Personally I prefer rewarding shareholders.
Clients … i.e bank depositors… can ultimately experience a bail-in to helpout wobbly banks

[SF Monedge]

Bid volume has been creeping in in chunks for about 20 minutes in stocks which is helping Euro hold the 0820 area.  Will it take hold is the question.

[Mtl JP]

Eye On Yellen
–
Bloomberg
Yellen Wants Currency Intervention to Be Rare and Well Flagged
US Treasury Secretary Janet Yellen reiterated that currency intervention should be a seldom-used tool that officials give fair warning about…

Bloomberg
Yellen Calls for United Front on Chinese Industrial Overcapacity

The New York Times
Yellen Warns Israel Against Cutting off Palestinian Banks

Financial Post
With Ukraine losing ground, allies debate how to squeeze cash for Kyiv out of frozen Russian assets

WSJ
A Global Tax on Billionaires? Janet Yellen Says ‘No’
Treasury secretary came out against the proposed global levy, which proponents say would stop the rich from shifting wealth into countries where they can avoid paying the tax

[michael Calif]

Option Profile:  NQ and SP500 futures have made marginal new highs, new longs here are buying the top similar to new Silver longs on May 17

[GVI Forex 2]

USDJPY 5 MINUTE CHART – iF YOU BLINKED YOU MISSED IT

How;’s this for a 5 minute candle?

Intervention?

157.19 => 156.65 => 157.07

No idea about intervention but shows how skittish the market can be with the key 158 area, the last key level ahead of the 160.16 high

Note US yields continue to climb with 10-year at 4.49%

[Author]

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