Welcome to a new trading week and today’s edition of the Traderfy Trend for August 17, 2015.
This morning we find the E-mini S&P, $ES_F, starting a new downtrend as it crossed through the 2084 handle. On the daily chart we are still in a gigantic wedge pattern, disccused here, and waiting for the directional breakout to occur. There is an important level to be found at 2073 which is the current three day rolling VWAP.
Bonds quietly snuck into an uptrend move on Aug 16th and retraced to test the crossover level early today. Currently, the 30 year bond futures, $ZB_F) are in an uptrend auction gaining strength at 8:30 EST. It is of interest to note that it has spiked beyond the three day rolling R1, and the three day rolling high.
The chart for Crude Oil futures is pretty simple. The $CLF_ has been in a down auctioning trend since Aug 13th and said move continues today.
Make today a great trading day and be sure to share your thoughts about futures trends below.