You Cannot Ignore These Charts! | Morning Express

Yes, this chart again. 30-year Bond yield battling at 1.9-2.0%, directional break will move markets.

30-year Bond futures testing same trend line as resistance, but not violated. Price is inverse of yield.

The 5yr vs the 30yr yield curve is flattening into a support level.

Weekly chart in the Dollar Index going back to 2011 low. Big breakout if confirmed on the week. Tailwind to 96.00-96.50.

- JOLTs Job Openings and Michigan Consumer data are due at 9:00 am CT.

- September Job Openings are expected to fall for the second month to 10.3 million, just below the 11.098 peak in July and 60% above pre-pandemic levels.

- November Michigan Consumer Sentiment and Expectations are both expected to improve to 72.4 and 70.0 from 77.7 and 67.9, respectively. Inflation Expectations in October hit 4.8%, the highest since 2008.

- U.S. Dollar Index is breaking out, will it confirm on a weekly close? Chart above.

- U.S. 30-year and 5-year Treasury spread flattened by 16 basis points this week. Approaching big support level from 2018 flattener. Chart above.

- U.S. 30-year Bond violated big level of support, whereas futures did not violate resistance. Big showdown at 1.8-2.0%; a break above 2.0% likely to pressure risk-assets. A break below begs the questions, what does the Bond market know with this bull flattener?

- Flattening yield curve exudes slower growth prospects.

- Tensions rising in Eastern Europe.

- Russia amasses troops at the Ukrainian border. U.S. has warns of potential invasion.

- Belarus is sending migrants to the Polish border and threatened to stop Russian gas supplies through its pipeline after EU sanctions following elections. E-mini S&P (December) / NQ (December)

S&P, yesterday’s close: Settled at 4643, up 1.00 NQ, yesterday’s close: Settled at 16,022.75, up 42.25

- Maintain our outright Bullish Bias because price action continues to hold out above rare major four-star support at 4620-4627.

- Relevant to recent pullbacks, unenthusiastic dip buying so far.

- S&P did cover 4642 gap perfectly ahead of close yesterday, but not a tick more.

- However, momentum indicators are pointed lower through yesterday and have now flattened out. Continued price action above 4651 in S&P will be supportive to higher prices.

- Russell 2000 hit 50% retracement from Wednesday low back to Monday’s record is 2419.6; stalled here perfectly yesterday. A move out above here brings tailwind to higher prices.

- NQ lingering at major three-star support at 15,957-16,000. If buyers do not show up early, it could set a tone that drags other indices.

- Bullish confirmations across all timeframes upon a close above ... Click here to get our (FULL) daily reports emailed to you! Bias: Resistance: Pivot: Support: NQ (December) Resistance: Pivot: Support: Crude Oil (December) Yesterday’s close: Settled at 81.59, up 0.25 - We maintain a more Bullish outlook because of our longer-term expectations, however, price action very subdued.

- Crude Oil retested $85 highs this week, but Gasoline and Heating Oil much less enthusiastic.

- Heating Oil, potential outside bearish week developing on close below 2.398

- Crude Oil, potential outside bearish week developing on close below 78.25. - Keep a pulse on Russia and Belarus. Conflict could drive prices higher. - Market stability maintained upon continued close above Click here to get our (FULL) daily reports emailed to you! Bias: Resistance: Pivot: Support: Gold (December) / Silver (December) Gold, yesterday’s close: Settled at 1863.9, up 15.6 Silver, yesterday’s close: Settled at 25.301, up 0.529 - Gold price action has stalled over last two sessions against major three-star resistance at 1868.4. - Silver has stuck nose above major three-star resistance at 25.17-25.22, but lacking follow through. - Both strong closes yesterday but subdued overnight. - Metals have risen with the U.S. Dollar this week. Unlikely to continue. Who will win out? - 30-year Bond at a critical level. Rising yields/lower prices weigh on Gold. - Momentum indicator and point of balance on the session at ... Click here to get our (FULL) daily reports emailed to you! Bias: Resistance: Pivot: Support:

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Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.

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