What to do now?
Hi all. First, check out the trade idea threads from today
Here and here. If you are not a plus member, get on that. Seriously.
Let's dive into some of the DeMARK broad scans and setups and more generally, just what the heck is going on in markets at the moment.
Oil has been one of those very rare "instantly" right trades that is going to have major repercussions for the rest of the markets, in my view.
First, being right on oil means one thing: rates should start to cool off a little bit. Look at the beautiful combo 13 on the us 10 year yield.
Gold drift is going to be lower, but the 7/9 buy sequence means a short-term pop first. I'm not playing it.
DUST weekly 13 combo.. daily 13 sequential across the board on GDX.
ES still looking at this as the game-plan. People think this is a bear market. I see record short positioning and a bear market that has ended in hyper growth and China.
China 9 buy setup off prop on next bar.
Just feels like being short right now could be a bit disastrous if markets don't continue to see selling, especially if rates start to cool off along with gold and oil.
What is an interesting way to stay long commodities? I like copper. Why? there is a legitimate tightness in the copper market and the commodity has not performed relative to gold for example. So it might be a bit of a save haven from a performance perspective on commodity declines.
Anyway, subscribe to the plus content for all the other goodies. Don't forget to check out the brand new backtester on the site as well. If you're reading this and want to trial the site for a couple of days, reply to the email I will sort you out.