Click on this link to join the room: www.trademaven.omnovia.com/tmaven. no password is needed.
The following is a sample of the daily research provided by TradeMaven Inside Edge mentor Charles Cochran:
The Bond even after rejecting prices above 120-16 did finish the day higher than yesterday. The close was not strong. I can make the case that the top of the bracket held, or that the bottom of the P also held, and the market is poised to retest resistance. The day’s news was very bullish w/the steep fall in the ISM Service Index. If it weren’t for the 2nd Qtr Treasury Refundings and the 10 and 30Y auctions, I would make a straight buy call. While I think the market is pointed higher, the auction could delay my anticipated rally. Some news tomorrow, preliminary-Productivity could cause a quick move, but think the auction will quickly take over. The key for our early morning trade is what the ES does overnight.
F1 Comments: Two scenarios for the Bond’s F1 chart. The market is in a bracket and poised to trade higher. Of the top of the bracket held and the Bond will retest 118-00 before the issue is settled. Market’s bias is a trading range.
F2 Comments: The market rallied off the surprisingly weak ISM Services number and did hit 120-20, the LV# on the screen. As per the theory LV#’s are support/resistance and 120-20 stopped the market. The Bond eventually pulled back and hit 119-25, the HV#, as per the theory. Even with a very bullish number, the Bond sold. The ES was weak too. So what could explain the weakness in the Bond. This week’s Quarterly Treasury refunding is the market’s focus. Their usual ploy is to run the market down to bump up the coupon, then reverse in front of the 10 or 30Y auction. We will see. Preliminary Productivity is expected at 1.0%. The OVN session will help. The ES’s direction will also help with the trade in the morning. If the ES is sideways to lower, want to buy early weakness. First area of interest is 119-25 OB. If we open lower than that, my next area of buying interest is 119-17 OB. If the ES is higher, may take a sale at 119-31 OB to get in. Best sell area is 120-08/12, but may not get there.
F3 Comments: Analysis was to be a buyer. After the 2nd failure at 120-16, a sell became a viable trade too.
Upcoming Reports:
Wednesday:
MBA Purchase Applications 7:00 ET
Productivity and Costs 8:30 ET
Thursday
Jobless Claims 8:30 ET
Pending Home Sales Index 10:00 ET
Consumer Credit 3:00 ET
Friday:
Wholesale Trade 10:00 ET
From the TradeMaven Software, Volume Weighted Pivot Support and Resistance for Wednesday, Feb 6th:
The Bond even after rejecting prices above 120-16 did finish the day higher than yesterday. The close was not strong. I can make the case that the top of the bracket held, or that the bottom of the P also held, and the market is poised to retest resistance. The day’s news was very bullish w/the steep fall in the ISM Service Index. If it weren’t for the 2nd Qtr Treasury Refundings and the 10 and 30Y auctions, I would make a straight buy call. While I think the market is pointed higher, the auction could delay my anticipated rally. Some news tomorrow, preliminary-Productivity could cause a quick move, but think the auction will quickly take over. The key for our early morning trade is what the ES does overnight.
F1 Comments: Two scenarios for the Bond’s F1 chart. The market is in a bracket and poised to trade higher. Of the top of the bracket held and the Bond will retest 118-00 before the issue is settled. Market’s bias is a trading range.F2 Comments: The market rallied off the surprisingly weak ISM Services number and did hit 120-20, the LV# on the screen. As per the theory LV#’s are support/resistance and 120-20 stopped the market. The Bond eventually pulled back and hit 119-25, the HV#, as per the theory. Even with a very bullish number, the Bond sold. The ES was weak too. So what could explain the weakness in the Bond. This week’s Quarterly Treasury refunding is the market’s focus. Their usual ploy is to run the market down to bump up the coupon, then reverse in front of the 10 or 30Y auction. We will see. Preliminary Productivity is expected at 1.0%. The OVN session will help. The ES’s direction will also help with the trade in the morning. If the ES is sideways to lower, want to buy early weakness. First area of interest is 119-25 OB. If we open lower than that, my next area of buying interest is 119-17 OB. If the ES is higher, may take a sale at 119-31 OB to get in. Best sell area is 120-08/12, but may not get there.F3 Comments: Analysis was to be a buyer. After the 2nd failure at 120-16, a sell became a viable trade too.Upcoming Reports:
Wednesday:
MBA Purchase Applications 7:00 ET
Productivity and Costs 8:30 ET
Thursday
Jobless Claims 8:30 ET
Pending Home Sales Index 10:00 ET
Consumer Credit 3:00 ET
Friday:
Wholesale Trade 10:00 ET
From the TradeMaven Software, Volume Weighted Pivot Support and Resistance for Wednesday, Feb 6th:
