MACD is weakening here and about to cross down. Remaining short here and think next time the lower channel gets tested (around 27400), it will break.  We shall see!

Think trailing down here is probably a good approach.

Nice chart. With price forming this bullish channel, next move should be higher but with the weekend approaching, I am going to move to the sidelines  on ES...and close my short from earlier.

Thankyou. Much appreciated. It is the break in symmetry that I need to add in as a trigger. Will try and incorporate.  I hve a stop in at todays high ~7280 and am eyeing up the broken rising channel around 7225 to trim. Not the best Risk:Reward so will trail down if we get to ~7225

Sweet! This is where I have a reasonable sized position 2x fund. Also an interesting chart at the bottom of this link. Sugar has a delayed reaction to movements in Oil. So maybe with Oil stabalising ~$100, Sugar will play catch up in terms of its move. https://www.ragus.co.uk/why-oil-prices-are-driving-sugar-markets-more-than-you-think/

Perhaps some retrace through to end of day? I am seeing 5 waves on the hourlies. But I am about a 1 out of 10 on EW Understanding! I just went short here but tiny position size

 I find this chart fascinating. Notice the 15 year Bull Cycle followed by a largely sideways move. It doesn't actually show the sideways move but you get the idea. Price did nothing for 15 years after. So we are now potentially in this cycle. +51% so far. If history is any guide, much further to go. Climate Change is a variable that wasn't a major factor in prior cycles. So every chance this potential 15 year move is the most explosive.

Naturally, the art is to take profits when we see a claer 5 wave move up in any instrument and then wait for the reset. 

Eyeing up ~7220-40 before shorting. Should meet resistance and if Divergence holds, will look to open a position

German DAX looks poised to break upwards here. If so, I would think we also have higher to go in S&P before the 4th wave is in. Fits nicely with the narrative of Oil perhaps seeing some form of retracement here as the inverse correlation is currently in play

Oil. Seems a good objective short here. Retest of the Daily rising channel breakout from March. 

Kiss goodbye? As in lip to lip rather than KISS Systems. :)

Good approach.  Just wait for the technical red flags.

The way HYG is behaving tells me this could be wave 5 unfolding. It's looking weak as Matt mentioned before

I shorted STX earlier today so stop in now at todays high. It has risen ~1000% in the last year. May rise further but any pullback in the market will probably be lead by those with froth in them. It's still up 13% today but was up 18% earlier. 

Hi Matt. Back to Sugar! I am not really an EW Guru. Just looking at structure though, is it possible CANE is starting its 3rd wave up here?  Wave 2 looks a bit shallow but I guess there was some sort of pullback. Also todays rally seems quite impulsive. Will naturally have to build in the coming days though. I pitched the end of the wave to around $11 because that's where price broke down back in Autumn.

Separately, I had a look at Corr (SPX, CANE). Almost an inverse correlation recently. Perhaps rotation may have something to do with it. So if S&P is likely to fall, one home may be found in CANE

Yep with Sugar that's what I mentioned last week. Cane is being diverted for Fuel rather than crushing for sugar

In addition, the Brazilian Crop is currently being harvested. Any sign of a lower yield there will start to squeeze future supply

Finally, Super El Nino this year. This is the one that will send Aggs higher still. When Cocoa had a bad crop a few years ago, the price tripled within a year. It is back to earth now but had a heck of a run then

ROP reported today. I still think it has higher to go and the pattern seems bullish here. Well off todays highs but I think it may just be a retest of the horizontal consolidation

MOH. Nice move up from yesterday. I am trimming here as it has largely filled the gap. Nice 12% gain though overnight

Sugar. The more I look into it, the more I see positive headwinds for Sugar. 

1. Technically, near multi-year lows with recent signs of bottoming

2. Super El-Nino Risks later this year which may negatively impact crop yields

3. Supply constraints in the Straits. Around 6% comes through there so Supply is tightening

4. Ethanol. With Oil prices likely to be elevated for the foreseeable future, Cane is being crushed for Ethanol (As an energy source) rather than for Sugar. So it's a fantastic substitute in many cases instead of paying higher Crude Prices

I remain long here and will trail up but with aggs, a combo of positive technicals and positive macro conditions usually lead to sweet gains.

Good Educational Summary and also overall commentary in the Newsletter re: potential roadmap. Thankyou

MOH is curling up here. Obvious Gap Fills above with MACD also crossing nicely above the zero line and trending up

Absolutely. So I understand Tony Schwartz   wrote Art of The Deal "on behalf of" Trump. I think one rule in this was to not come across desperate. Out of US & Iran, I kind of know which party seems more desperate for a deal.  Putting that aside, I showed the downward bullish channel in Oil for the last few days so have been trailing up here since $87.50

Matt, would welcome your short term view on Gold here. It looks to be at the bottom of a wedge and also near a demand zone. 

Is this how you read it? Thinking it may be due a bounce potentially