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Futures (ES, NQ, GC, CL) – 28 June 2017

28 June 2017

Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)

Futures (ES, NQ, GC, CL) – 27 June 2017

27 June 2017

Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)

Futures (ES, NQ, GC, CL) – 23 June 17

23 June 2017

Daily status of the futures of Gold (GC), WTI Crude (CL), Nasdaq 100 (NQ) and S&P 500 (ES)

Options – 18 December 15 Monthly Income – Bull PUT on SPX

Update

14 December 2015

We closed this CALL credit spread and bought it back for $0.05. Overall, it was a small profit to be redeployed for the next trade.

8 December 2015

We sold a monthly CALL credit spread at 2135/2145 for $1.10. The total Return-on-Risk for this new trade is 1.10/8.90 = 12.36 % excluding transaction cost. The PUT credit spread was closed for $1.75.

27 November 2015

We sold a monthly PUT credit spread at 2015/2005 for $1.15. The total Return-on-Risk for this new trade is 1.15/8.85 = 13.00 % excluding transaction cost. Expiration is at 9:30 am, 18 December 2015 (EST)

Options – 21 August 15 Monthly Income – Bull PUT on SPX

Update

21 August 2015

This PUT credit spread expired worthless. The Settlement price was 2015.47.

13 July 2015

We sold a monthly PUT credit spread at 1980/1970 for $1.30. The total Return-on-Risk for this new trade is 1.30/8.70 = 14.94 % excluding transaction cost. Expiration is at 9:30 am, 21 August 2015 (EST)

Options – 17 July 15 Monthly Income – Bull PUT on SPX

Update

13 July 2015

We closed this trade by buying it back for $0.05. Option expiration is this coming Friday morning.

15 June 2015

We sold a monthly PUT credit spread at 1980/1970 for $1.30. The total Return-on-Risk for this new trade is 1.30/8.70 = 14.94 % excluding transaction cost. Expiration is at 9:30 am, 17 July 2015 (EST)

31 October 2016 – Oil drops, indices hold

The Dow Transportation is leading the market back up while the rest of the other indices are little change. The indices were higher in the morning session but came under selling pressure.

WTI oil futures suffered a 4% drop to below $47 per barrel. The recent agreement to freeze production levels appear to be disintegrating. Dollar index suffered a big drop just like oil futures but is still in an uptrend. Bonds futures had a positive day but it is still in a daily downtrend.

The decline in oil prices brought down RIG, CHK, BHI. More talks on regulating drug pricing also impacted on companies such as ZBH, PRGO and ALXN. Healthcare and REITs underperformed for the month of October and are down by over 6%.

Dow Transportation whipsawed in the first two hours of trading before the bulls exerted themselves. It traded upward till the end of the day and closed with a small bullish spinning top doji candle above its 21 EMA. Momentum is upward. Volumetric buying pressure is at 38.7%. The index is in a daily and monthly Squeeze.

Dow Industrial see-saw throughout the day and closed with a small bearish candle below its moving averages. Momentum remains downward. Short term volumetric buying pressure is at 66.1%. The index is in a daily and monthly Squeeze.

Russell 2000 traded downward till mid-morning before rallying upward for the rest of the day. It closed with a bullish spinning top doji candle below its moving averages. Momentum remains downward. Volumetric buying pressure is at 20%.

Nasdaq 100 see-saw throughout the morning session and then pulled back till the end of the day. It closed with a bearish marubozu candle below its 50 SMA. Momentum is downward. Volumetric buying pressure is at 27.1%. The index is in a daily and monthly Squeeze.

S&P 500 whipsawed throughout the day and closed with a small bearish candle below its moving averages. Momentum is downward. Volumetric buying pressure is at 37.8%. The index is in a daily and monthly Squeeze.

Metals and Commodities
WTI Crude oil suffered a sharp pullback to below $47 per barrel below its 50 SMA. It is trading at $46.85 per barrel.

Gold futures is trading at $1278.2 per ounce and is in a daily Squeeze. It found support on its 200 SMA and looks set to breakout to the upside.

Silver futures is trading at $17.900 per ounce and is in a Squeeze. It looks set to breakout to the upside.

Agriculture (DBA) ETF gapped down and whipsaw throughout the day. It closed with a doji candle on its 8 EMA.

Commodities (DBC) ETF gapped down and traded down the whole day. It closed with a bearish candle below its 21 EMA.

Bonds
Bond futures (ZB) rallied throughout the day and closed with a small bullish candle below its moving averages. It is still in a daily downtrend.

High Yield bond ETF (HYG) continued in its downtrend and could be the canary in the coal mine for the market. It has pulled back sharply and closed at 86.02 below its 50 SMA.

Bonds ETF (TLT) gapped up and closed with a small bullish marubozu candle at 131.25 below all its moving averages. Daily momentum remains downward.

Currencies
The dollar index pulled back with a big bearish marubozu candle below its 8 EMA. It is at 98.380.

EUR/USD closed with a bearish hammer candle below its 21 EMA at 1.09686. The downtrend continues.

USD/JPY continued its uptrend and is trading at 104.790.

Relative Strength – Sectors
On a monthly lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLF, XLB, XLP, XLI and XLK respectively.

On a 3-month lookback, the relative strength order of the ETFs that are outperforming the S&P 500 are XLU, XLE, XLF, XLK, XLB, XLP and XLI respectively.

Market Internals
Vix closed at 17.06. Vix futures is at 17.19 and has Squeezed upward. Skew is at 126.12. Market sentiment is neutral. Market breadth is sloping downward showing nett losers to gainers. Volumetric accumulation/distribution is sloping downward.

The Week Ahead
The indices continue to come under selling pressure going forward into the US presidential election. This is likely to be resolved with an explosive move either direction once the results of the elections are known. Market internals continue to deteriorate. The prognosis is for more volatility and selling pressure in the market.
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Stock of the Day
The Stock of the Day is FSLR. First Solar is a provider of photovoltaic (PV) solar energy solutions. The company designs, manufactures and sells PV solar modules with thin-film semiconductor technology and also develops, designs, constructs and sells PV solar power solutions.

 

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