US30
FUNDAMENTAL ANALYSIS
Friday's mixed news release suggests that the FED may actually agree to a sooner QE tapering. We've all witnessed the impact of "fear" of Covid-19 in the markets and the new variant which seems to be more transmissible has showed it's claws in the market. A very conservative Powell has secured the seat of FED chair & we've heard his stance when it comes to inflation, factoring all the above into the current state of the market we can not possibly be set in the narrative of "never sell indices".
COT
COMMERCIALS: LONG POSITIONS 48,778 (+2 212) SHORT POSITIONS 46 260 (-5 670)
DEALERS / INTERMEDIARY LONG POSITIONS 29,820 (+674) SHORT POSITIONS 38,368 (-7 076)
TECHNICAL PERSPECTIVE
The technical chart speaks to the fundamental outlook of US30, we seen a lot of bearish pressure this past 2-3 weeks with the last week losing -0.25%. The chart illustrates in detail with my perspective is, I will look for bullish price action early in the week & expect continued bearish pressure from Wednesday.
DISCLAIMER
As with any analysis, these are my views and not a true indication of how price action may be delivered in the live market. It is not advise on whether to sell or buy the said instrument either.
Please like the idea it let's me know that (1) you agree with the analysis and (2) that you like these type of ideas. Also follow me for more ideas, I try to post at least one weekly forecast.
Friday's mixed news release suggests that the FED may actually agree to a sooner QE tapering. We've all witnessed the impact of "fear" of Covid-19 in the markets and the new variant which seems to be more transmissible has showed it's claws in the market. A very conservative Powell has secured the seat of FED chair & we've heard his stance when it comes to inflation, factoring all the above into the current state of the market we can not possibly be set in the narrative of "never sell indices".
COT
COMMERCIALS: LONG POSITIONS 48,778 (+2 212) SHORT POSITIONS 46 260 (-5 670)
DEALERS / INTERMEDIARY LONG POSITIONS 29,820 (+674) SHORT POSITIONS 38,368 (-7 076)
TECHNICAL PERSPECTIVE
The technical chart speaks to the fundamental outlook of US30, we seen a lot of bearish pressure this past 2-3 weeks with the last week losing -0.25%. The chart illustrates in detail with my perspective is, I will look for bullish price action early in the week & expect continued bearish pressure from Wednesday.
DISCLAIMER
As with any analysis, these are my views and not a true indication of how price action may be delivered in the live market. It is not advise on whether to sell or buy the said instrument either.
Please like the idea it let's me know that (1) you agree with the analysis and (2) that you like these type of ideas. Also follow me for more ideas, I try to post at least one weekly forecast.
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