Thank you guys for joining me and welcome to Episode 14 of Season 2 brought to you by Magnelibra Trading & Research (MTR). This episode is entitled “Market Technical Analysis and So Much More”
Quick Disclaimer: The following podcast is for educational purposes only. This is not a solicitation to buy or sell commodity futures or options. The risk of trading securities, futures and options can be substantial and may not be appropriate for all listeners.
It is President’s Day here in the United States and electronic futures trading is limited and todays limited action is for settling on tomorrow Tuesday Feb. 18th. President’s day holiday is used to officially celebrate the birthday of George Washington, who was born on February 22nd 1732. It is celebrated on the 3rd Monday in February.
Ok we have a lot to get into, we are going to look at a bunch of technical charts and see if anything stand’s out. We also want to take a look at the recent Retail Sales data and also perhaps touch on the DOG-E recent federal jobs cuts and the effect on housing in and around DC. We always know that for every action there is an opposing reaction and a lot of times we can’t really measure the impacts of a single action accurately. When it comes to eliminating costs and waste on any level whether it be personal, corporate or government, we suspect there is a lot of potential for unforeseen, unintended consequences. Although we believe the DOG-E (pronounced DOG-”E”) We like this pronunciation as opposed to (DOE-GEH). Doge is the symbol for the Crypto currency Dogecoin and DOG-E is the Dept. of Govt. Efficiency…that is how we separate them.
President Trump celebrated President’s Day weekend by attending the Daytona 500 and did a celebratory motorcade lap around the track!
Ok anyway we will get into all of that but first let’s start this pod off with last weeks settle page. We have the new US Treasury cash data updated for the new 30Y and 10Y issues auctioned last week. Bonds had another decent bid on Friday, Equities were all lower except the Nasdaq. FX continues to perform well as the US Dollar retreats back a bit, energies were mixed as Crude and RBOB lower with Nat Gas higher and we rolled to the April Contract. Gold and Copper took a break from their recent runs and Silver was higher:
The Dax and Copper are still the 30 day leaders and Crude Oil and Bitcoin are the big losers:
The US Bond market yield curve wise saw a decent steepening bias as yields tumbled across all durations on Friday:
As far as the Magnelibra CTA Markets Sentiment Indicator, the ZN and ZF futures (10Y and 5Y notes) and the Nikkei are back to a positive sentiment and the RBOB is the only negative sentiment right now:
Alright goes please hit that subscribe button to look at all our other data and insight, we have a plethora of technical charts we go over and insight that you can only get from Magnelibra Trading & Research.
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