Well, so much for resolving things. Equities this week generally remained flat; at least those in the U.S. market did. Meanwhile, what to make of the explosion in commodities, emerging markets and Treasury yields? The reflation trade is starting to kick in, but how far can things go with the anemic action in U.S. financials and real estate?
There's some good news from today's Commitments of Traders data. See my newly revised latest signals table for a breakdown of this data in key markets and which way my trading setups are leaning right now.
My setup for the BKX U.S. Bank Index remains bullish for a second week next week. Also, my gold setup turns bullish again after a week in cash. And crude oil remains bullish, while my S&P 500 setup goes to cash.
I'll be back here early next week with a more detailed look at the data. In the interim, I invite you to check out the numbers on the latest signals table, which tell an interesting story themselves. Also early next, check in to see my latest portfolio numbers. Have a great weekend.
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5 comments:
What is your opinion of the way USDJPY has been jumping all over the place?
Hi In Debt...,
Yeah, it's weird. I've been watching it, but can't make heads or tails of it. I don't know where to get in for a trade, whether long or short, and don't have a COT setup for it yet, either, unfortunately. On my to-do list. Sorry.
Regards,
Alex
Thanks Alex. I am not sure how much stock to put in the report considering the last 10 minutes of Friday's close.
Here is a better explanation:
http://market-ticker.denninger.net/
archives/1072-What-Was-THAT-Friday-
Market-Close.html
I would like your permission to add to my blog roll. Is that ok?
Hi In Debt...,
Sure - go ahead.
Thanks,
Alex
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