Broad Risk Update: Bar 9 Up, Rates Retest, Crude Going Lower
120M 9 sell setup forming here in the short-term. Which I think means this bar is going to be wild / up at the open and then you get sideways price digestion.
Master game-plan is still for the 4350 area to hold for a move back to the 4800 area. That is where the bears will have full control from my model, as weekly trends have broken lower across the board. This is a typical bear market rally but will be a huge opportunity to sell later on. Lets get to 4640 / new highs first and then see how prices setup later.
Opportunity to buy some bonds this morning as the 10-year is testing the fractal level. Looking for 2.784 first on the 10 year.
Crude is a high conviction short here as well. Stop at 104 this morning on a tactical add to the short from 108. Targeting the 95 area first.