Coiled and Roiled

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Today is the “big day” of the week, and probably the month. My main concern is bonds, which I am short for the long-term (January 2019 puts). The /ZB certainly seems coiled for a potential move higher, which I’ve tinted, but as long as it is repelled by its broken trendline, as it has in the past (arrows), I’ll be OK.

I did a Slope PLUS post yesterday which, among other items, suggested AT&T as a potential short. I was just basing it on the chart, forgetting there was a critical court ruling that was being announced after the close. Well, the court ruling allowed AT&T to buy Comcast after all, and although the stock spiked for about three seconds, you can see it is headed in the right direction now.

Let’s see if it can break that lower boundary this week.

Good luck today. It’s going to be a wild one.

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