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[SF Monedge]

Preference here for UsdChf is the short side to this point today.

[SF Monedge]

Most internal metrics with stocks are still on the defensive but the volume ratios are hanging in there so I would not discount the potential for stocks to hold near or below current levels and the Euro in tandem.  Shorts in Eu and Aud were exited this morning.  Overall risk on remains but not strongly to this point.  Preference at Monedge is the long bias when appropriate unless there is widespread adjustment.

[Mtl JP]

DLRchf 9088
–
break S would target 9065-ish

[Mtl JP]

Jeff Cox
–
* The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it stood in March 2020.

* Chatter has spilled into government and finance heavyweights, and has one prominent Wall Street firm wondering if costs associated with the debt pose a risk to the stock market rally.

* The CBO estimates that debt held by the public compared to GDP will rise to “an amount greater than at any point in the nation’s history.”

* Fed Chair Jerome Powell said recently that “this is something that elected people need to get their arms around sooner rather than later.”

Soaring debt and deficits causing worry about threats to the economy and markets

thanks jeff !

[GVI Forex 2]

USDJPY 4 HOUR CHART – A CASE FOR A RETRACEMENT

A CASE CAN STILL BE MADE THAT THE REBOUND FROM 151.85 IS STILL A RETRACEMENT AFTER PAUSING BELOW 156.98 = 61.8% OF 160.16-151.85

wITH THAT SAID, 155 STILL HOLDS THE KEY TO ITS TONE GOING FORWARD.

oN THE DOWNSIDE, 155.97 AND 155.24 STAND AHEAD OIF 155.

WHATEVER, THE CASE, THE joy HAS BEEN THE OUTPERFORMER TODAY DESPITE THE UPTICK IN US BOND YIELDS

[Belgrade Bobby]

XAUUSD – Gold Daily

New high !

[Belgrade Bobby]

GME 4h (NYSE)

[GVI Forex 2]

USDX 4 HOUR CHART – HELD ABOVE KEY SUPPORT BUT…

USDX held above jey 1903.63 support to cool the downside but would need to break above 105.10 to confirm then end of the downtrend.

Note EURUSD is 57.6% of USDX so it often asks as the index often acts as a pRoxy for the EURUSD

[SF Monedge]

Market is on the defensive EU, Usd/Jpy is at a standstill.  Exporters want the BOJ to keep markets stale.  Two year US Note looks enticing for the bid side into the selling.  Believe risk on bias is still present enough in stock and Euro markets to warrant risk on positioning at this point but letting the minutia play out might be prudent.  Noting put to call ratios in stock options have creeped in since Friday putting a little pressure on performance.

[Belgrade Bobby]

Nvidia 4h

[Mtl JP]

a ah … they forgot something:
–
08:45 – Bostic yaks
09:00 – barr: “Bank Supervision and Regulation”
09:00 – waller yaks
10:30 – jefferson: “The U.S. Economy and Housing Price Dynamics”
19:00 – bostic yaks some more

[GVI Forex 2]

Gold last 2421… needs to hold 2417 or risk return ti 2400.. POWER OF ’50’ 9HIGH 2450)

[GVI Forex 2]

I have posted links to this article before and each time it attracts fresh attention. To show yoiu there is a method to my madness, look at the high on this XAUSUSD chart and read or reread this article.

My Favorite Trading Secret: The Power of the “50” Level

My Favorite Trading Secret: The Power of the “50” Level

[GVI Forex 2]

I have posted links to this article before and each time it attracts fresh attention. To show yoiu there is a method to my madness, look at the high on this XAUSUSD chart and read or reread this artile.

My Favorite Trading Secret: The Power of the “50” Level

My Favorite Trading Secret: The Power of the “50” Level

[Mtl JP]

oooooohh …
may … if …
–
“BOE’s Broadbent Says UK Interest Rates May Be Cut This Summer
(Bloomberg) — The Bank of England will be able to cut interest rates “some time over the summer” if second round inflation pressures drop…

some players are salivating at gaming the BoE
Id say this is a game for bond types and the smaller fry can maybe game rate differential

[GVI Forex 2]

A look at the day ahead in U.S. and global markets from Mike Dolan

World markets, heady on hopes for renewed U.S. disinflation and another attempt by China at shoring up its ailing housing sector, entered the new week on the front foot as attention switched back to the artificial intelligence boom.

Morning Bid: Buoyant start to ‘Nvidia week’

[GVI Forex 2]

GBPUSD DAILY CHART – TESTING A KEY RESISTANCE

GBPUSD has tested 1.2708 and as can be seen on this chart is a key resistance.

On the downside (not shown on this chart() a key support is at 1.2643, but 1,27 will likely be the bias setter ahead of a busy week for UK data.

In this regard, CPI will be the highlight, and logic says forecasts for a sharp drop should at some point cap GBPUSD”s upside ahead of it.

See our Economic Calendar

[Mtl JP]

GVI 9:33 when ? see my 11:04 pm:
when it stops going up

[wfakhoury Amman]

May 18, 2024 at 4:39 pm#6474
SF Monedge
___________________________
I am interested.

[GVI Forex 2]

This is a term I coined to identify a forex trading pattern that I watch out for each week. I call it the Monday Effect and when it plays it, there are usually significant moves in the market. So, you need to be aware of the Monday Effect, which I reveal in the following article…

Another Trading Secret Revealed: The Monday Effect

Another Trading Secret Revealed: The Monday Effect

[Author]

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