So most of the neutral charts I showed over the weekend started off bullish. They held those weekly lows and started with a bang…. Some indexes such as Euronext Brussels has closed over major resistance …although we need tomorrow to confirm it. Some indicies have also signaled daily buy signals such as the AEX-Index.
Whats interesting is the 30yr, evil index, and atomic all have retested major support and held as well. A break down below these supports would confirm the bullish tape but until it breaks down below…be careful.
First the 30yr Treasuries. As shown on the intraday update we opened on support so it was obvious to cover TMV. It is currently sitting on support. The RSI is telling me to be a little careful however.
Next up is the Bel 20 Index aka Euronext Brussels. Notice what was bearish has now become very bullish looking. We need a confirmation tomorrow to confirm this is legit.
Cac 40 Index breaks short term resistance.
Dow Jones Asian Titans holds support
Euro Bobl retests broken trendline.
Euro Bund goes down to trendline 2.
Euro FX holds support but still under resistance.
S&P 100 Index
S&P Utilities holds support as well.
Time for the 3 special indexes. First up endgame index surprisingly rallies. The resistance marks major bond market turning points. A break higher=very deflationary. If resistance holds= very inflationary aka short bonds.
Atomic Index breaks the short term trend-line from Oct 27th and then retests support. If it holds, I will be shorting Asia.. If it falls back in, I will be heavily long equities, short bonds.
The mini-atomic however broke 2 supports. Maybe this is what's to come for the atomic.
And last but not least, the evil is retesting its middle channel. Break below=bullish, holds=bearish.
So again, most of the neutral charts from the weekend update have held support. The euro is back on support but also within resistance which is the inverse for the dollar index. China may have rallied but it still under support. The 30yr is back on support on the regular chart. What the atomic index and evil index is signaling is what I am feeling, still neutral ready to go short/long depending on the signal/confirmation tomorrow.
