/ZB (15-25 year Treasury Bond futures) went on to break out above the bullish falling wedge posted in the trading room last night & is currently backtesting it from above, offering another objective long entry. As this backtest in /ZB aligns with the Fed-induced pop in the futures (announcement of $2.3T in new lending facilities), that meshes with my expectation that this pre-market Fed-induced rally in the futures will soon be faded with stocks down & Treasuries up.
ZB 60m April 9th
/ZB was posted as a trade setup in the trading room last night, stating:
A breakout above this 60m bullish falling wedge (and/or reversal off the 176’301 support) on /ZB (15-25 yr T-bond futures) followed by a rally would likely coincide with the next drop in the stock market, with both appearing both likely & imminent. Objective long entries to come on a pullback to just above the 176’301 support and/or a breakout above the falling wedge pattern. Potential targets for a /ZB long indicated at the arrow breaks.
ZB 60m April 8th
On a related note, /RTY & IWM sell signal pending a break below this 60-minute bearish rising wedge pattern.
RTY 60m April 9th
And yet on another related note, /GC gold (another risk-off asset along with Treasuries) is once again testing the key 1728ish resistance level which highlighted in recent videos with a solid breakout likely to open the door to the next leg higher. Of course, resistance is resistance until & unless taken out & as far as resistance levels go, this is a big one so best to wait to see gold take that level out with conviction along with a convincing reversal in equities before adding to any gold positions.
GC 60m April 9th
/SI silver continues to walk up the trendline with an impulsive spike today, coming up on the 15.871 resistance level now as /GC gold also comes up on key resistance.
SI 60m April 9th
/SB sugar broke out above the larger falling wedge pattern & offers an objective entry on /SB or the SGG Active Long Swing Trade here on this pullback to just above the downtrend line & minor uptrend line (both support).
SB 60m April 9th
/ZC corn is starting to crack above the bullish falling wedge pattern although a little more upside would help to dismiss this as another potential whipsaw signal.
ZC 60m April 9th