Quick Charts

Passing the time before the big events

QRA as expected, with no change to coupons. The conspiracy theories can be put to rest. There is ISM and JOLTs at 10am, after which should be a lot of choppy, noisy price action which I plan to avoid trading. Meanwhile, a couple charts I am looking at.

China new orders a big jump. It seems like this was forewarned by all of the Copper stockpiling, which may be done for now. It’s also interesting to see how much Gold has been bought by retail investors in China, as noted by ETF flows surging there but not as much here.

Oil move lower has surprised me. It’s sitting at a crucial support level. Break below could mean a move to 75 and take some steam out of goods reflation. It’s bounced off this trendline multiple times.

SPX nearing support where it bounced. I think it’s inevitable it breaks eventually and heads to 4800.