Homework and TradeSheet for Thursday June 6th

June 05, 2019

ECB day!  DAX made a wide range reversal pattern at the recent bottom which shifted the momentum back up. It formed a doji bar after two strong rally days – 120  minute  bull flag should form, leading to continuation up.

SPs:  back into 2820 – 2840 trading zone.  Another day of two way trading to consolidate the recent momentum reversal?

The Nazdaq is on a 5 SMA sale.  The main qualifier to this pattern is that it too, gave a wide range reversal Buy 2 days ago which can often override this pattern.

Bonds – first close below the 5 SMA = Buy scalp – bracketing market potential

GC, SI  – buy dips still

EC 112.345 key pivot.  Be long above this, flat below.   JY – Buy Day

CL and products: Buy – scalp only, as the market comes into balance.

LC – Sell short day on a further rally.

Beans and Corn – watch unfilled gaps to the downside for main pivots.

4:25 A.M. EST BOJ Gov Kuroda Speaks

5:00 A.M. EST BOE Gov Carney Speaks

7:45 A.M. EST EUR Monetary Policy Statement

8:30 A.M. EST ECB Press Conference, CAD Trade Balance, & USD Unemployment Claims

10:30 A.M. EST Natural Gas Storage

1:00 P.M. EST FOMC Member Williams Speaks