Hubert Senters here.
Let’s take a look at the market so we had a nice little bounce today. Nice little slingshot trades going below the turning and the standard and back above the turning and then gain some ground.
So all the index is basically look like that S&P, the Nikkei, the Nasdaq sold off a little bit. It sold off. It did hold it kind of on the standard line.
So as far as indexes go it’s not what you want to see. It’s anomally. It’s breaking out from the others and you don’t want to see that you’d rather see the Nasdaq doing what the Russell is doing and then the YM also.
The Nasdaq just a little odd it’s probably because there’s a component in there that went off and pulled it down artifically.
When I say artifically it’s not like it’s not real but if some component in the Nasdaq weren’t too of them had a bad day it’ll pull it down.
So overall index still looks good. I don’t see any chinks in the armor yet other than manly been going up forever.
And eventually they’re going to get tired and once the selloff comes it’s going to be amazing. But overall still decent.
If you want to traded indexes I don’t have any problems with it. The Dax had a nice little run so did the Eurostoxx50. I am still currently staying away from interest rates and the Bund and the 10-year and the 30 even though they fell apart.
Today, I don’t think they can go a ton lower. I could be wrong. But right now I’d say that I might be able to get the trade off on the 30-year bond because it just broke through on the ADX here so.
I will be paying attention the rest of the week on for a swing basis on bonds because now they’re almost on the trending zone so at $20.51 that qualifies.
It’s just I’m not sure how much lower they can go. Interest rates are super low. But I’m willing to take the risks if they’re willing to trend. I’m willing to trade them.
Gold pullback because index just went up. It went down $33. It retrace pretty much all of the gains that ramp up the last couple of days but it did finish above the cloud so I still like it long.
Copper still looks good better than Gold and Platinum still looks pretty good. Copper is my favorite as far as the metals right now.
Crude Oil climb above $50 or next target is $60. Natural Gas climb. We’re looking for a target of $280 and Heating Oil also climb. Next target $160.
The Meats, Feeder Cattle is stuck in the cloud. Live Cattle bounce up off of it. Leave that alone. Lean Hogs you had a nice little bracket trade.
But now, it’s just kind of falling asleep and retracing back. If you’re going to trade an agriculture product, the meat I would prefer that you trade something like a bean oil, corn, oats, soy soy meal.
I would avoid Rough Rice and Wheat is starting to move so Wheat is tradeable now as opposed to a meat. These are going to be better trending markets for you right now.
As far as the softs go Coco is a two day short. Next target $2,400. OJ is about to be a long. It hasn’t broken out there but watch it.
Cotton is on track to hit $85. Coffee sold off. And the only thing about coffee it gets a little crazy from time to time.
When it drops non-trending it can potentially got a little nuts so be careful with it right now. And then you got Sugar next target is going to be $17.05.
Good luck. Hope it helps. See you on the next video.
Hubert.
