These last few weeks have left me quiet and consumed with making sense of nonsensical things. I envision settling down and coming up with a long-form note about Renminbi (my short title is “Pay Per View: Pettis vs. Bass” to help me frame it, however it’s so complicated and will take time) but for now I need to take a look at futures charts which have my attention. There has just been too much damn noise and it’s been overwhelming and it helps to take a step back and see price trends. Daytraders’ paradise (not my wheel-house).
First up the Spoos. I see hope for a spring-time bounce into “resistance” and then my worry is that will be it for the year on the long side. I am overly pessimistic and I should not have any sentiment at all in terms of trading, price before feelings.
I am either in $TLT $TLO or the futures themselves when it comes to treasuries. Not reassuring – in fact these charts inspire the opposite sentiment.
One perverse bright spot is the chance to go long something in the next few weeks, sugar.Took long enough.
The Aussie is my proxy for crude oil/china/emerging markets/ebullience.
The Loonie is facing overlapping challenges – Justin Dollars could be poised for a recovery, wait & see.
Right here is the potential bargain play of the decade or my own personal Waterloo.
GOLD, like sugar, seems poised from my slow-frequency, weekly price P.O.V. ready for a comeback after nearly half a decade – right after John Pauson’s flattening of his longs. That seems like perfect timing.
ANOTHER ANTI-REASSURING, downright depressing “long” that has come, just like gold and treasuries.
A SHORT. BREXIT, no BREXIT, all I know is the “tape” said sell 3 months ago and has only gotten worse.
Good breakdown of the important macro gears moving the mkt
Thanks probucks, appreciate it.
I had to smile when I saw that sugar chart. You are a patient man.
Yes indeed, UncleBuccs it could take a while still, we shall see if and when on that one.