The YM provide $6,514 per contract today for the High to low….
Spectacular if you followed the Chart I posted this mooning, it traded almost to perfection.
Crude Oil – about the same, having nailed the top at 66.66 (how is that not entirely obvious) to the 60.36 low – it’s going lower, although 5905 / 55.22 / 52.88 will begin to arrive quickly, there’s a long that will develop off the lows… to 75 / 92/ 114.
NQ RTY ES gagged… again.
Currencies are getting wild – the 6e is open to 113’s and then 108s.
6a, serious trouble, GBP even more.
Bond shorts are smoking it, another clear short.
The correction has much further to go…
NEW YORK, Feb 8 (Reuters) – The U.S. Treasury Department on Thursday sold $16 billion of 30-year government bonds at a yield of 3.121 percent, which was the highest yield at a 30-year auction in 11 months, Treasury data showed.
The ratio of bids to the amount of 30-year issue offered was 2.26, marking its weakest reading since November. This gauge of overall auction demand was 2.74 at the prior 30-year bond sale in January.
* U.S. 30-year yield breaks above 3 pct for first time since
* U.S. economy expanding at 5.4 pct in Q1 - Atlanta Fed
* Further yield curve flattening is expected to resume
* U.S. Treasuries posted worst month in over a year
February 1 Thursday 3:56PM New York / 2026 GMT
US T BONDS MAR8 146-11/32 -1-15/32
10YR TNotes MAR8 121-40/256 -0-108/25
Price Current Net
Yield % Change
Three-month bills 1.4675 1.4934 0.028
Six-month bills 1.61 1.6457 -0.018
Two-year note 99-176/256 2.1609 0.016
Three-year note 99-24/256 2.3194 0.030
Five-year note 99-26/256 2.5678 0.042
Seven-year note 98-156/256 2.7197 0.057
10-year note 95-116/256 2.784 0.064
30-year bond 94-208/256 3.015 0.074
DOLLAR SWAP SPREADS
Last (bps) Net
U.S. 2-year dollar swap 19.25 0.50
U.S. 3-year dollar swap 18.25 0.00
U.S. 5-year dollar swap 8.00 0.75
U.S. 10-year dollar swap 3.25 0.50
U.S. 30-year dollar swap -12.25 0.25
The Long Bond, 10yr and short end are all adding large risk to Broad Markets.
Currencies are gyrating wildly day to day and have presented a solid range for trading – the Aussie Dollar and Euro have provided excellent setups.
I am short the YM off the top of the range and presently looking for a waterfall decline to 25888, it will be fascinating IF it trades today as it was front by almost 60 ticks earlier.
The long was a excellent entry there and I took it as there were frankly no trades in the Energy Complex that I trusted in RB, CL or NG.
Selling should accelerate for the time being in the Indices. Ramp Capital made a solid effort after 2:30PM EST to bring the YM & ES back up… whether or not they will accomplish this today remains to be seen… I’m hoping the lows @ 25922 are tested and fail providing my profit target to be hit. It could either way…