Hello Everyone,
Monday's Comments:
Sentiment is quite bearish (see AAII and NAAIM reports last week) along with those divergences shown on the NYMO/NAMO this weekend are potential fuel for the bulls to get some upside relief. With that said, today's move was somewhat choppy with the SPX/QQQ still closing below their respective 5 day EMAs so we will need to see more evidence (follow through).
Thursday's Comments:
Yellen set off the firestorm yesterday as the treasury shifted issuances towards bills from coupons (quarterly refunding also announced less supply to be issued). T-Bills are funded out of the RRP (new low ) versus bank reserves. QRA
Andy Constan CNBC Clip
For tomorrow Nasrallahs Speech (see link in trading community) and Monthly Payrolls
ES support 4318 and 4309/02 then 4290 and resistance 4330/40 and 4355
Please take a moment to look at the trade ideas.
