Bonds Bonds Bonds!
Excellent bond setups are on the roster today and I’m posting this early so that you guys have a chance to get a seat on the bus. Equities are also in a pretty juicy formation so I guess it’s going to be a busy morning:
The spoos are looking tired as heck which is why I’m currently long with a stop below the recent spike low. IF we bust through that one then I think we’re going all the way to the lower daily BB. Also note that the hourly BBs are tightening and most likely we are going to see even more volatility here soon. Heck… hell of a summer!
The NQ painting the same pattern – also long here and I have split my 1R exposure between both. Same implications – below 4540 we are in bear territory. Gravity could kick in quickly here – be prepared.
Corn – awesome setup as those hourly BBs are squeezed to the max. BIG move coming. Which way I don’t know but I’m currently long until I’m not, which will be below 364.6.
Okay I promised bonds and El Topo delivers. Five year bond futures are challenging old daily resistance and I’m long here with a stop below a recent daily NLBL. Very few people are going to be long here after the recent push higher, which is why I like it even more.
However I’m keeping my favorite bond setup (and a LOT more) for my intrepid subs:
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A lot of juicy symbols today. One may even say that we have a plethora of setups!