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Trade Review, Positions Updated And Charts For Tomorrow
Because of this move in rates, I'm expecting that the market goes risk off in the very short-term. We have had a really nice rally on the back drop of strong moves in duration. TLT failed to get above the daily DeMARK TDST level.
AGG had the same exact situation, failing to break above TDST (Origin and Regular)
All with the backdrop of guess what, a TD Pressure down signal on QQQ.
The trade here is really not to overthink and put on tactical hedges in the short-term I think. We are short-term overbought and I am expecting 1-2 days of selling pressure on the backdrop of stronger rates.
Would imagine that energy would therefore have some relative strong. I'm eyeing the range projection down level on XLE at 75.5. If that holds, giddy up for a quick upside trade as the rest of the markets could be hit but we can do a scalp on the alongside there for bull moves.
Look at this clean reversal in KO (Coca Cola). This is a blue chip that might be signaling what is in store for the market in the short-term.
Discord trades for the week.