SPX trading in the middle of its trading range .
The range is drifting up by 16pts per month.
I think there is a slight advantage to a continuation to 2040 but all markets are well supported from here and a penetration lower is not trivial apparently (as per yesterday rejection)...
Big picture: I think the rally may extend to 2150 on the 19th of June 2015 before a more significant correction.
NFP today will be the focus
Trading:
I am still short to 2040 and would buy dax at 11,000 and bund at 150 (which we nearly touched yesterday).
The range is drifting up by 16pts per month.
I think there is a slight advantage to a continuation to 2040 but all markets are well supported from here and a penetration lower is not trivial apparently (as per yesterday rejection)...
Big picture: I think the rally may extend to 2150 on the 19th of June 2015 before a more significant correction.
NFP today will be the focus
Trading:
I am still short to 2040 and would buy dax at 11,000 and bund at 150 (which we nearly touched yesterday).
