Welcome to today’s edition of the Traderfy Trend and the early look at the trend direction of E-mini, Bond and Crude Oil futures.
E-mini S&P early trend $ES_F
The $ES_F is has made a sharp bounce from yesterday’s lows from yet another Monday selloff. As the auction approaches our trend definition line, traders should keep in mind the 1940 handle. Another level to notate is the rolling VWAP at 1954. By a pure read of the chart, the E-mini S&P is in a downtrend but must be watched closesly.
Bond Futures $ZB_F
At the trading open for bond, we find the $ZB_F in a down trend below both the trend indication line and yesterday’s close. The rolling S1 should be noted at 153’15. With both the $ES_F and the $ZB_F showing down trends, I like to say that, “one of them is wrong.” It wouldn’t take much for the bulls to push the E-mini S&P into an uptrend.
Crude Oil Futures $CL_F
Of the three futures we review each morning, today’s Crude Oil Futures chart is the most difficult to clearly define trend. We have seen both harsh selling and buying. Further complicating matters is that Crude Oil Inventories are released today. I will put $CL_F in the neutral trend category. Make sure to be watching Traderfy Realtime when the numbers are released.
As the day progresses, be sure to tell us your thoughts in the comments below.
Have a great trading day.