This is a sample entry from Drew Rathgeber’s newsletter, The Rath Overlay, published on Friday, March 17, 2017.
In The Markets
Emini S&P – ESM6 (Jun ’17)
Trading at the top of its short-term range staying within a 40 pt. range since Mar. 1st generally speaking this market is probably looking for some type of fundamental news to speculate higher prices. This entire rally has been based on pure speculation what Trump will do and its net effect, yet we are still living in Obama’s regulatory environment and will be for another year or two so it’s interesting to watch the indexes go higher
Gold – GGCJ7 (Apr ‘17)
Gold and Silver are trading at the top of its range with a good size rebound this week from the FOMC meeting. It almost feels like the market was anticipating a 50 bp rate hike and only received 25 bp even though the consensus was 25 bp which had a net negative effect on the USD pushing the yellow metal higher.
Wheat – ZWK7 (May ‘17)
Trading in its lower 25% range creating short term higher prices.
Crude Oil WTI – GCLH7 (Apr ’17)
Huge % drop in Crude prices and looking for support at these levels, I feel odds are high for a counter trend rebound and currently working on this cause.
T-Bonds – ZBH7 (Jun ’17)
Nice short entry after the FOMC announcement this week at 148-16.
U.S. Dollar – DX-MZ6 (Jun ’17)
This market has been the BIG story this week with its largest one week drop in sometime, looks to be targeting support at 99.30 then I would expect a battle to ensue at this level with high chance for a bounce.
(S) OSIU7 C22.00 Option Call Dec. 23rd Open P/L: +260
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