It's actually a relatively quiet period in futures. Gold and Silver futures both look like they are set to continue to base which is great as it will provide for a stable trade, how soon depends on how fast they are accumulated.
The one future that does stand out is the yen, with the BOJ policy meeting coming out this week (tomorrow I believe) we can already see heavier than normal accumulation in the yen as well as distribution in all of the pairs, USD/JPY, EUR/JPY and AUD/JPY.
If 3C calls this like it called the last move in the yen, then the yen should rocket higher as it has already carved out the base, put in the head fake move and accumulation.
As far as the correlation with the market goes as of now, it should have a negative effect on the market, I suppose it all is up to how much the Yen actually moves.
I'll keep an eye on that as well as the correlation.
Tomorrow we have Bernankadido at 10 a.m. and of course the last F_O_M_C minutes at 2 p.m.
Tomorrow I'd expect lots of volatility, it may be excellent for smaller intraday options trades like the AAPL put that was up nearly 15% today at one point, so it may be worth taking some of those profits with minimal risk.
We'll see what the market offers and then take as much as we can.
5 years ago
No comments:
Post a Comment