Blue Line Futures

May 18, 2022

The Rebound Erodes with Corporate Profits

U.S. equity benchmarks are slipping from yesterday’s exuberant closing levels. There was a sense of negativity ahead of Fed Chair Powell’s afternoon comments, that he would squash the rally.

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Blue Line Futures

May 10, 2022

When Does The Carnage End?

E-mini S&P (June) / NQ (June) S&P, yesterday’s close: Settled at 3987.50, down 132.00 NQ, yesterday’s close: Settled at 12,193.75, down 502.00 Fundamentals: The carnage across risk assets resumed Monday. The S&P covered the gap associated with its April 1, 2021 breakout, settling with “3” handle, and the NQ traded to an 18-month low. The … Continue reading When Does The Carnage End?

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Tradable Patterns

May 9, 2022

Wheat (ZW) Weekly Chart Bull Flag Consolidation Near Complete

Wheat (ZW)’s Bull Flag consolidation (or daily chart triangle) since early March is in its advanced stages, with ZW nearing the April high.  Any break above the daily chart triangle resistance and April high will likely have to wait until after the highly anticipated May 12th WASDE release.  Despite the higher odds for the WASDE to … Continue reading Wheat (ZW) Weekly Chart Bull Flag Consolidation Near Complete

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