Bonds Rally Off The Blocks
T-bonds
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a sign of momentum that makes them eligible for an Off The Blocks
entry. The setup goes long on a move above the opening five-minute bar and
both contracts have rallied to new multi-month highs following evidence of
continuing economic weakness from yesterday’s Philadelphia Fed, declining
international trade (both imports and exports fell in the trade
figures), and the Michigan consumer sentiment.Â
Making good on its
Implosion-5 List reading with downside momentum,
Nasdaq 100 futures
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but also broke down below their opening bar to make good on an Off The Blocks
short entry. The 1546 low has became resistance as the market chops on an
options expiration Friday.
The S&P futures
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Turtle Soup Plus One Buy, so there is a potential for a reversal here above
the previous 20-day low at 1168.50 on July 24.Â
The outside-day-bars down pointed out two days ago in the Futures Market
Recap in the energies are leading to a second consecutive day of sharp
declines. Notice how little
heating oil
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unleaded gasoline
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have pulled back from their opening levels in rapid descents.