This week brings us the last full week of trading combined with the FOMC, and quarterly OPEX - so I am not expecting anything wild or crazy in the markets.
The 3 Horsemen - no real change from our perch here - we saw the 10yr pop to fill a weekly volume imbalance , but I am still shopping for lower prices on both the 10yr and DXY. The VIX backtested a weekly IRL and I am expecting to see lower VIX from here.
The Nasdaq actually have some weekly context this week that has a nested daily level. I need a dip to buy so I will be scouting for longs ~ 2% lower from here
Crude Oil is a total chop-fest mess and I have no clear structure setup on it. I am looking for lower oil prices in general, but from HERE - I have no real context.
Gold gave us an awesome backtest and rejection off the weekly level last week - from here I want to see it take the November Lows out.
Its a brief letter this week - but I don't see anything REALLY compelling from our chair here.
So here is the setup I am watching for this week;
I want to see NDX drop ~ 2% into our weekly downside target. From there, I will be scouting for longs.
I want to see Bonds and DXY continue lower
I am looking for Gold to continue to the November Lows, and Oil to take the Sept lows.
Until next week - We'll be watching.
DJI entered and confirmed our long entries. These weekly plays allow us to sit in them for weeks and harvest gains. I am looking for 46k from here before I close - I will take 1/2 off at ATH