Good Morning Traders! Click on the charts below and they will get bigger – same with the tradesheet!
ECB did not fail to disappoint and the Russell daily charts turned back up. There is good upside momentum and any early morning reaction down will be a buying opportunity. Put call ratios still do not reflect any frothy sentiment readings and many shares have had upside breakouts on the charts.
Bonds, EC and Yen have pinball SELL setups – short any reaction above the daily 5 SMA. A general zone is outlined below in the bonds.
Gold and Silver also have pinball sells – look for two way trade in the metals as they are already well down in the overnight markets. Crude has had a good corrective swing down – the daily osc is poised to turn back up.
Note – Aug Cows made new contract highs.
Buy pullback to the 15, then 30 minute EMA in the index futures – any morning rally will lead to a shorting opportunity for a reaction back down as well.
Have a fabulous weekend!