The second day of the OPEN HOUSE of the TIE Chatroom begins Tuesday Morning at 7am central.
Here is the link: www.trademaven.omnovia.com/tmaven - the password is "education".
Charlie's Comments:
ES was pressured today and this took the Bond higher. Another new high for the Bond and the ES is close to taking out support at 1433/35. Its not the ES that is taking the Bond lower. It is the weakening economy that is taking the ES lower and supporting the Bond. The bond market remains in an uptrend. Tomorrow’s news is housing based and could easily come in lower than forecast, which would be supportive for the Bonds. With some help from the news the Bond is poised to trade higher tomorrow morning.
F1 Comments: Both price and volume moved higher and extended their ranges. They held these gains into the close. The market is pointed higher. Longer term we are buyers of weakness.
F2 Comments: Market traded to new highs on this move. 116-00 fell and the buyers held their positions into the close. The economic news OVN was conducive for the Bonds and not so for the ES. The economic news continues to pressure the ES and it will take a big piece of news to change this. Some news tomorrow---Housing Starts is expected at 1.175M and Permits at 1.200M. We want to buy early weakness and see if 116-17/20 can be taken out. If 116-17/20 is rejected and the ES is showing some strength, could take a quick short and see if the market can get through support at 116-00/04. Buy 116-01/05. Exit, if 116-17/20 holds.
F4 Comments: Analysis was to buy the Bond. Multiple trades from the long side of the market throughout the session.Pivot, Support and Resistance for Tuesday, Nov 20:
