I’m keeping a very close eye on Treasuries as yields are within spitting distance of new multi-year highs which would likely be a rally-killer for the stock market. Also watching high & low quality (junk) corp bonds as well: LQD, FALN, JNK, HYG, etc.. relative to Treasuries for any increase in credit spreads. So far, that has been one pillar support the stock market rally (no big increase in credit spreads, indicating a low perceived default risk on junk bonds)

Absolutely. One could continue to actively trade QQQ & /NQ off the very short-term charts to game the volatility & short-term swings throughout this week & once AMZN, AAPL, & the Friday AM jobs report is out of the way, my guess is that the market will begin to make clear if the next tradable trend will be up or down.

My bad, forgot to cover NG. Here’s my daily chart of UNG. A break below that minor uptrend line off the lows could spark a wave of selling & possibly a run at or below the early June lows.

I still think there is a good chance that nat gas is basing here, pounding out a bottom with a new primary uptrend coming soon but it continues to grind mostly sideways. A break above T2 (or 3.00 on /NG futures) could very well be the catalyst to finally get a rally with some legs as that would take out the late June & May highs.

Thx for the feedback. When looking to reference something I previously covered, I’ll often drag the slider at the bottom of the video (viewing on YouTube), which gives you a look at each frame… an easy way to see when I move to the next chart or skip ahead to a particular security. I also watch most YT videos in 1.5x or 1.75x playback speed, slowing it down if there’s a part that I really need to focus on & take in.

While most End-of-Month and Beginning-of-Month price action should be swayed toward the Buy side when the market is trending higher as it has been, the coming TGA refunding announcement, as well as seasonality, could add some Sell pressure to the mix. And maybe overall positioning has finally become lopsided to the long side, allowing more fuel for a bigger down move.