Looking For A Parking Spot
Traders are looking for place to put money, getting defensive instead of going
on the offensive in equities. T-bonds
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PowerRating) are the immediate beneficiary,
up 13/32 to 99 24/32. Ten-year notes
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2/32. T-bonds signaled they could make a stab to the upside having just ascended
to the Momentum-5
List. The bonds made good on low-risk Off The Blocks
and 1090
Opening Method entry setups. Â
Juniper Networks
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days, following its earnings blowout Friday, is down 10 and is casting a
negative shadow on stock index futures. Notice how December S&P futures
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PowerRating)
and NASDAQ 100 futures
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5-minute bar and plunged. A similar opening-range entry system is
used by many of the world’s top pit traders. Dow futures have been unable to
rally despite positive earnings results from Johnson & Johnson
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PowerRating) and Citigroup
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PowerRating).
Â
September dollar index futures
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PowerRating) are trading down slightly, making
good on their Turtle Soup Plus One
Sell setup. As mentioned in the Futures
Trading Outlook, soupy setups looked like they could stall further upside
progress in the dollar index as well as further downside movement in the Euro FX
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and Swiss francs
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PowerRating). But look for a continuation of the move to the
downside in euro FXs and francs (and upside for the buck futures) as the
European Central Bank said it would not intervene in world currency markets to
support the euro. Euro Swiss franc futures are both registered on the
Implosion-5 List.Â
From the Pullback From Lows List,
December gold
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PowerRating) gapped down to score a new contract low, but also sets
up a Turtle Soup Buy pattern (meaning the buy trigger was hit at the 10/6, 271.6
low). Look for this contract to fill the morning gap later in the session or in
the next few days.