With the strong breakdown last week of S&P500 (ES CME Sep14) and Nasdaq100 (NQ CME Sep14), and a slight near-term oversold bounce underway at the time of this writing, positioning for ES and NQ shorts have ample time, with some aggressive traders entering shorts right before today’s London open. The more conservative shortsellers will likelyRead More
The S&P500 (ES CME Sep14) and Nasdaq100 (NQ CME Sep14) are finally breaking down after weeks of topping behavior. I may go short after the current near-term oversold rally which I expect to run out of steam in the hours before Non-Farm Payrolls (NFP) releases today at 830am EST. I’ll be targeting roughly a 38.2%Read More
BUXL (Eurex GBX Sep14) is finally keeling over convincingly with yesterday’s strong move down. This week’s gravestone candlestick pattern is fairly reliable as a reversal indicator particularly following last week’s hammer, which in itself is also fairly bearish following a long uptrend. As I had previously exited my BUXL short at a slight loss beforeRead More
Yesterday saw further downside pressure on Wheat (CME ZW Sep14), Corn (CME ZC Sep14) and Cotton (ICE CT Dec14). I re-entered 2 lots long of Corn at 362.95, and continue to hold ZW and CT longs with the possibility of a bit more downside risk in exchange for a high probability oversold bounce either duringRead More
After yesterday’s positioning in 3 lots long of Wheat (CME ZW Sep14), 1 lot long of Natural Gas (CME NG Sep14), and still holding my 2 lots long of Cotton (ICE CT Dec14), the only market (from my Watchlist) currently offering a favourable risk-reward for the next few days and which I’m flat on isRead More
Today’s going to be a busy day of trading as I’ll be accumulating fresh longs on Corn (CME ZC Sep14), Wheat (CME ZW Sep14) and Natural Gas (CME NG Sep14) after having traded in and out of them last week. I’m still holding two lots of Cotton (ICE CT Dec14) long from last week, andRead More
Netflix (NFLX) has been exhibiting toppish behavior for a few weeks now, and is now added to the watchlist as both its weekly as well as daily charts now point lower. Given the downward pressure in the last few sessions, selling into a small bounce today or early next week may present better risk-reward. ArabicaRead More
After a strong performance of over 4% in gains yesterday, Arabica Coffee (ICE KC Sep14) has reclaimed the 38.2% retrace level of the 2014 Jan-Apr rally. KC will likely experience a bit of profit taking today, but has now with an increasingly bullish weekly chart, laid a strong foundation for gains in the weeks ahead.Read More
Buxl (Eurex GBX Sep14) has been added to today’s watchlist, as the German bond complex (particularly the Buxl, Schatz and Bobl) is beginning to show signs of topping after a strong extended rally. Arabica Coffee (ICE KC Sep14) experienced a bit more profit taking yesterday after a strong Friday. Expect a little more downside pressureRead More
Arabica Coffee (ICE KC Sep14) held most of the Friday gains yesterday after some initial profit taking. The weekly chart is becoming increasingly bullish. Going long the VIX (CFE VX Aug/Sep14) this week appears more attractive on risk-reward than going short the S&P500 (CME ES Sep14) when comparing their monthly, weekly and daily charts. TheRead More
