I Am Back in the China Shop and Expect Respect!
3 M. Daily - July 13 - Treasury Spread vs. S&P Futures shows the stability of the T-Bill Spread as opposed to the volatile bounce in the /ES. This chart would suggest that the action today was more of a bounce rather than a reversal of trend.
5 Day, 15 m. - July 13 - Strong internals supported an impressive rally today. The price action finished at High Tide within the Channel and considerable overhead resistance exists.
30 Day, 60 min. - July 13 - Today's rally represents a bounce within the confines of a downtrending channel. There should be resistance in the "Gold Spot" area. This type of market lends itself to Spread Trades and Defined Risk Trades like Verticals and Condors. You can be wrong and still make money.
3 Month, Daily - July 13 - Down Trending Channel continues. Rally could easily be interpreted as a 'Bounce" rather than a reversal.
.jpg){kind=small}
