There was increasing volume to the downside on the second day high to low. Today is a Buy Day but scalp only since multiple time frames made new momentum lows. The DOW made new mo mo lows on the 2-period ROC. Any reaction up will form bear flags for a shorting opportunity basis the 120/240 minute time frames. yesterday.
Bonds and Bunds – there was enough upside momentum that a three bar triangle can now form. (lower high on 120 minute possible) and then the first close below the 5 SMA would still set up a Buy over the next few days.
$ = new 2-period ROC momo highs.
GC: equilibrium point with multiple bars price overlap – TP = 35.
Grains – Buy Dips below the 5 SMA. Beans made new momentum hgihs on the 2-period ROC.
Coffee: 103.45 – 103.60 area of a previous swing high and swing low basis July contract. KC made new momo hgihs on 2-period ROC as well.
Blue squares = new 30 day highs or lows on the 2-period ROC, usually leading to intraday continuation patterns over the next few days.
8:30 A.M. EST Canada Current Account, USD Prelim GDP, USD Unemployment Claims
10:30 A.M. EST Natural Gas Storage
11:00 A.M. EST Crude Oil Inventories
12:00 A.M. EST FOMC Member Clarida Speaks
2:15 P.M. EST Canada Gov Council Member Wilkins Speaks
June Natural Gas goes first notice