UPDATE January 18
The week is almost over. Jobs numbers come out an hour before open. We have run up, and I believe a pullback is needed. After the pullback, let's see where we go. I will make this quick to get it out before jobs. Less jib jab, just charts.
it's pretty simple. if we break and hold 16980, then ~17500 is the target. If we break below 16700, then ~16000 is the target. Right now, price is over 17000. I would like a pullback at jobs release, but for it to hold ~16980. NQ is on a 6 of 9 count, making the 9 count land right as the jobs number gets released 😉
It's the same scenario as NQ.
The market is acting this way because of bonds. The yields (yields up = bonds down) are driving the markets, specifically the 10 year. This is because trading firms have pairs or barbell trades with bonds. Meaning their trading algorithms buy and sell the stock market (mostly big tech) based on bond yields. Bond yields down = buy stocks, Bond yields up = sell the stock market. The bond yields and VIX move in near tandem.
They look to be completing their short-term bearish moves soon. These could both break down or out, matching the Qs.
$Micro 10-Year Yield Futures(JAN4) (10Ymain.US)$
A quick peek at
since it is the largest component of the Qs, and it was conveniently upgraded today. Near term target is ~193. I would like to enter around 185.
I still like shipping
and uranium
$APPIA RARE EARTHS & URANIUM CORP (APAAF.US)$ , $Uranium Royalty (UROY.US)$ , $Ur-Energy (URG.US)$ ,
That's all, folks. quick and to the point. Watch your levels and watch for the drop at jobs numbers. After the drop, watch and see if it holds the levels to move back up.
Be Safe, Be Careful, Be Wise
and as always
Good Luck ![]()
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Sean wvwv : Should I stop shorting Treasuries? thanks！
iamiam OP Sean wvwv : how are you shorting them?
Sean wvwv iamiam OP : etf
iamiam OP : yields should drop again, maybe not far. but they could continue to rise. we are at a pivot point.
Sean wvwv iamiam OP : thank you so much
Sean wvwv : how do you think about Boeing ？it’s a good time to buy ？
iamiam OP Sean wvwv : personally, I would never buy Boeing. to trade, I'm not sure since I never look at it.
Pmacshark : Dips alert