Thursday Update

  • Metals are up after their pullback due to increased margin requirements.
  • Yields are up causing a drop in Treasury prices across the board.
  • Looking for a possible retracement back to the broken TL on the S&P 5m chart here.

Took some profits on the gap up in the opening, got out of $USD on weakness, started a position in SDS on market strength to protect profits still on the table.  We feel bullish today on a pullback that does not break support levels on the SPX 5m chart posted above.  Will continue to take profits into strength.

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