I have a lot of options activity pending on JPM right now. Looks healthy here but is bumping heads against WR1 and DR3 - not sure it can break here without a pullback and some distribution but I'm paying attention to $90 for hedges. I have a big long thesis on JPM right now and think into May we are well above $90, but as we know, in the market timing is...
Early signs of momentum failure, but nothing major. Micro trendlines still in place.
This could end up being a good one, but don't step in front of the flow just yet.
Good rotational pull happening here. Dollar has popped slightly in Tokyo session and the wires claim we are catching up on rate hike expectations per the Fed. The dollar has been tricky as of late, but we have generally just been waiting for the right time to get long with size again. These levels are still good, but we scaled in prior much lower. Max pain right...
The Aussie crosses are entering into a distribution phase, and will likely remain this way moving into Wednesday as there is a lot of data to come out that will be AUD sensitive. We have a bias for more AUDUSD upside here and also are looking for re-entries short GBPAUD.
Much event risk is now out of the way. Fed/BOE/NFP and much of Trump, however on Monday he will be releasing more information on his economic plan which could jolt markets. Right now the move looks good for a new leg higher towards 20160. Currently we are sitting at/near prior highs and odds look favorable short term that this will retrace closer to 19950 or a bit...
With Bank of England out of the way - impulsive move down is being met with buyers. This should begin to retrace and find new selling pressure around 1.2550/1.2600