Jan

6

A VMonday's delayed CFTC Report covered the festive 12/23-12/30 markets. It did confirm:

1. Commercial propensity toward Shorting indexes.
2. Commercial propensity to start rolling out of Treasury Longs.
3. Commercial Shorting of currencies.
4. Commercial offer into Gold rally and bid for Copper.
5. Commercial buying in liquid energies, while lightening up record Commercial Longs into NG rally.
 
Transition and reversal in short-term price moves should be completed by Wednesday Jan. 6 in the following important contracts:
 
1. EUR/USD will likely sharply reverse from 1.32 area, just like it did from 1.47 area on 12/18 (both 62% retracement targets).
2. Corresponding move in DXC up to 84.50 (62%) area.
3. EUR/GBP has dropped quickly from 0.98 toward 0.90 buy (38%) area.
4. 30y USH aggressive profit-taking from near-142 record (Open Interest fell during each of the three big down-days!) has max. target near 130 (38%) area.
5. In SP: offers are lining up in 950 area; once penetrated, scale-up sellers on the way to 1000.


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