Sunday, February 11, 2018

Week Ahead 7

On Friday indices exhibited some signs of capitulation, though lower lows were made and the fierce bounce back in the last three trading hours could have been only short covering before the weekend.

The 2550 SP500 level does not seem to be particularly strong resistance. The 2400-2500 area seems to be much more relevant.

On the other hand DAX have touched the 12k level that is a strong resistance.

US 10y yield made new high whereas the 2y contracted steepening further the curve.

The 2y spreads might be bottoming.

DBC broke important resistance.

US oil was held by the 59.00 resistance.

Agriculture was not part of the selloff.

Gold touched important resistance but bounced back, though the move was not particularly impressive.

Gold Miners and Gold divergence is strong due to the equity selloff.

USD index bounced back to previous low.

JPY was the best performer as a risk off trade, touching important level.

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