Overnight the futures had 'em running back into gold again, but currently the futures are helping the buck play Lazarus one more time, and right back in that bull flag formation. One thing for sure, the correlation between equities and commodities is still a fair play to consider for now. How it plays with the indices is anyone's guess and definitely not something we have a firm grip on still. For those of you who like to trade the Bios, here is a good article on the Biotech Bellweather Conference that kicked off today. Momo traders might want to watch the flu stocks again as well- they seemed to wake up today. Here are some charts for starters, just make sure these aren’t one day wonders.
Tomorrow's economic calendar includes: ICSC-Goldman Store Sales, International Trade Data and the Redbook before the bell. At 11:00 will be the 4 wk and 52 wk auction, followed by the 3 yr note at 1:00. Good trading to us all tomorrow!
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My apologies for this is out of synch- kind of like the way
they run the futures over night. Ya think?
Edit to add a Zig Zag Chart… Thanks, Ziggy!
