No part of my short thesis into end-of-week worked. We neither gapped down nor got rejected at the underside of the hourly channel (see chart). Instead of selling off as I expected post UMich data at 10AM ET, mad buying commenced as soon as closed my trading room SPX traveled all the way back to the top of that channel - all the while my USD/10Y indicator stayed firmly above 300!! I can't even tell you how few times this hasn't worked as a directional tell, inversely. Well, today was one where they were positively correlated - a rare event.
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Run-over is the new Roll-over!!
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No part of my short thesis into end-of-week worked. We neither gapped down nor got rejected at the underside of the hourly channel (see chart). Instead of selling off as I expected post UMich data at 10AM ET, mad buying commenced as soon as closed my trading room SPX traveled all the way back to the top of that channel - all the while my USD/10Y indicator stayed firmly above 300!! I can't even tell you how few times this hasn't worked as a directional tell, inversely. Well, today was one where they were positively correlated - a rare event.