Forex/Futures ST for Week 10/28 - 11/03

greenback

Well on the very short term, stocks and bonds are still moving in the same direction. However, on a bit longer time frame, bonds are posed to break out. This probably indicates stocks are more likely to go down after this short-term pop.

Let's see how things will eventually work out, by starting to look at bonds:





We can now start a long position in ZB given the confirmation by ZN.

greenback

We are still waiting for the stocks to form a good bottom ... the momentum has reduced on the 4h charts, but whether they will continue down or reverse remains to be seen.

Note the last bar for TF on today is wrong.

greenback

AUD remains to be bullish. We are waiting for a breakout...

greenback

EURO is turning to a range ... back to the triangle.

greenback

GC and CL are forming small bottoms ... I won't chase it this time because the pattern is too small.

greenback

Overall, the market is still bearish except the relatively stronger AUD. Today's news in China further support the bullish move in AUD. So will China lead the rest of us out of the correction this time? Or maybe Spain will eventually ask for a bailout? These are the macro driving forces in the weeks to come that will favor bulls.

befriend

silicon_beaver

Thanks greenback Laoda.
Your analysis makes me see hope again.  

silicon_beaver

exait 1406. gained 4 pts.
then reloaded 1402 again.

BOT                ES        DEC12 Futures         1402.00        USD        GLOBEX        21:11:48
SLD                ES        DEC12 Futures         1406.00        USD        GLOBEX        19:06:13

silicon_beaver

hope a "W" bottom here tonight. 1401 level.

greenback

silicon_beaver 发表于 2012-10-29 12:16 AM
exait 1406. gained 4 pts.
then reloaded 1402 again.

Good job!

greenback

silicon_beaver 发表于 2012-10-29 12:33 AM
hope a "W" bottom here tonight. 1401 level.

GOLD is more likely to form a W so far. AUD is also stronger ...

silicon_beaver

eng, not a full "W" yet.
But at least, tonight not broke 1400's.
hope to swing to 1406 again. then I will be resting Monday and Tuesday.

greenback

AUD is finally forming a ascending triangle ... promising!

greenback

EURO is trying again to break out of the triangle, but still not that great. If 100% MM target is met, then it's promising.

greenback

ZB almost met the target, hitting a S/R level ... expecting some consolidation here at least. ZF is back to the bottom again.

greenback

GC and CL are behaving similarly ... remain consolidating at Fri's level.

greenback

Stocks are still in the woods. Need to see a good bottom. TF still making lower lows, in a down channel.

st-watcher

Wanted to long USO, but not open this morning.

greenback

st-watcher 发表于 2012-10-30 12:48 PM
Wanted to long USO, but not open this morning.

Still early in the game to long crude ... so you're fine.