Trading Homework for Trade-date Friday August 16th 2019

Bonds and Bunds all pushed to new yearly highs – again. It is starting to feel as if even the US can get to zero interest rates on its long term debt. That would be something.

With 15 trillion dollars worth of sovereign debt in other countries already at or below zero, the US will add trillions on top of that. What world are we living in again?

Time to remember the old adage – don’t fight the trend…


  • GC: Still consolidating with bullish bias
  • SI: Still consolidating
  • HG: Consolidation
  • ZB: Sell divs into new highs on the daily charts
  • ZC: Testing prior major swing low on daily. If this is going to bounce it should be soon.
  • LH: Sideways line
  • LC: Breakaway gap (on news earlier this week)
  • NG: Overbought – short scalps only
  • HO: Sloppy 3 day triangle – can have a mild breakout.
  • EMD: Tagged close to lower end of range and bounced
  • ES/NQ/YM/FESX/NK: All did the same thing – tagged closed to lower end of range and then bounced. The ES bounce consists of a sideways line though…
  • FDAX: Forming buy divergences on the daily chart? That’s weird…
  • BP: More consolidation after just one breakdown day from prior consolidation. Ugg. Lots of negative sentiment here so maybe that needs to be worked off…
  • NE1: Negative consolidation
  • MP1: Bounce from support and bounce from 200 EMA on daily and weekly charts
  • BTC: Might be ready for a bounce
  • PL: ABC Down on dailies setting up for a long play?
  • PA: Hourly sideways line
  • FBGL: Z-day after big push up into new all time highs…

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