Wednesday, April 3, 2013

ES thoughts

Looks like we're now in a downtrend? Cobra thinks we're going to see a bounce first, and I agree. If we do get a bounce, what are good sell areas? I like 1559ish from this chart below. If and when this happens,  I'd like to get out of XIV trade as well.

Also, not very convinced that we're looking at more upside in ZB, look at this TYX chart below. At support, similar with TLT, at resistance. Support for ZB comes in at 144 '23, below that is 144 '06 and 144 is strong support. There's a Bank of Japan announcement tonight which might be a ZB mover.

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