Gonna Be A Scorcher

Most of Western Europe is bracing for an early summer scorcher this week. Which is just par for the course after a freezing rained out joke of a spring. Some call it global warming, some call it climate change, and other just call it the weather. I for one call it global Spanish climate as weather extremes are quite typical to the Iberian peninsula. In fact the Madrileños have an apt expression for it: seis meses de invierno y seis meses de infierno – six months of winter and six months of hell. So there you go – welcome to my world!

Alright let’s get this market update going before my trading lair goes up in flames. We seem to be stuck in a chop zone near the upper 100-day SMA below ES 2975. You didn’t think the 3k mark would be taken so easily did ya?

For now I’m keeping my trail at about 0.5R especially as the 100-hour SMA just pushed above it. There isn’t much else in terms of technical context right now so this one will have to do.

No luck with my bonds campaign as the damn ZB dropped like a rock right after triggering my entry. It’s recovered quite a bit overnight and I’m currently down about 0.25R. The good news is that IF the entry mark can be recovered I’ve got a bit more defensible context bolstering my ISL below.

What can I say about crude. Once she gets going she’s a beauty to behold. Trail now goes to 1.25R with more ill-gotten gains on the horizon.

I’m eating my copper campaign as the September rollover is upon us. Well 0.6R isn’t much to write home about but it’s better than a kick in the shin!

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