Last week has proven to be directional on Thursday and Friday as I have expected. There were plenty of opportunities to find and if I have counted right, if you would take every single play, there were about 20 to 30R’s. Out of that I took “only” +11R which is a first decent week after very silent two and a half weeks in Feb14. I ll write about that in a different article.
So what is ahead of us? A week without any committees, speeches (except Yellen testimony which in my opinion won’t offer any directions for markets) or any other event which would make markets untradable.
As you can see, we were nearly flat until Wednesday last week. Today, so far so good. It looks like we might see more swings with dollar being the loser in this game.
And here goes the Treasuries, Dollar index and S&P500. It seems to me, that S&P wants to desperately take that ALL TIME HIGH OUT. That can potentially trigger swings in other markets. If we get a pop up in S&P, we might see dollar to lose more. Let’s wait and see.
Focus on risk, no profits and trade your plan. The rest will take care of itself.
Have a great week.