Equities, RBOB & Silver Dump

GFBP Hedged Short Position Tracker Update

Ok so we won’t get into the content from earlier where we outlined the rationale for today’s equity dump, Tariffs, Covid, etc. Maybe even the DOJ probing in Chinese companies deemed to be accused of being backed by “Chinese defense department.”

Maybe Apple anti-trust and closing stores due to covid, no matter what, in a traders world the why rarely matters as much as the what and the how, what markets moved and how far did they go? Let’s start with a few charts, here is Silver:

A little too far to fast in the metals and they are consolidating here and a move lower would ensue with a break below $17. Next up Crude where we posted $41 resistance and now we are off $3 and threatening further probes lower:

The bonds had a decent day as the long end of the US treasury market outperformed, a rare event these days even with a decent 5yr auction but back into the channel and butted up against the Fib .618:

Finally the Nasdaq which we continue to paramaterize within our rectangle breakout box, probes lower look too obvious and we know everyone is front running the end of month rebalance, so we should expect some snap up algo pain at times, but chart structure is consolidative not outright bearish:

As far as the Global Benchmark Futures Program position tracker the one change made is that the program was induced into a short silver here so that end of day change was added and tipped the scale from balanced to just Hedged Short:

Lastly, the settlements for 6/24/20 of the futures and cash markets that we follow:

OK, we hope you continue to spread the word on our work here with your friends and colleagues, remember, knowledge is key and it is the absolute goal of Magnelibra’s Econemotion to put you always ahead of the pack. When your family, friends and neighbors ask, how you know all this stuff, we hope you point them in our direction. We hope you consider contributing to our work and joining as a monthly subscriber and for the professional traders and investors, join our Founding Subscription because the position tracker is a uniquely proprietary driven model designed as a global macro market analytic that we believe can help to advance your trading and investing game.

-Magnelibra Econemotions

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