Mav, What's your opinion on USD/JPY here...it's in a tight spring right here. my NL just confirmed to the upside on this pair.
I still have a choppy number number line for USD/JPY. The two best pairs I have right now is long USD/CAD due to the weak oil. Peso is also ripping but that re-set for me. The loony did not. And if you want to short risk right now, stay the eff away from the ES and short GBP/JPY.
I agree Mav, it has been, so I'll contribute one thing we saw yesterday. X/X beans. I know not many trade grains and probably fewer spreads, but x/x hit our Monthly A-down yesterday. normally I don't pay much attention to these in bean spreads as they can get blown through easily, but its coinciding with some improving short term number lines in the flat price and our thought is that for total dollar exposure ($1 of margin used in flat price vs $1 used in spreads), the x/x has a better bang for the buck. otherwise, cracks have been moving nicely, but flat price energies dead for the most part as far as new trends. I think that'll resolve itself by the first of the month, but what do I know.
I should note that we use a modified time session for our number lines in beans. I don't believe you'd see the same "improvement" over the short term if just looking at the 8:30-1:15/20 day session. So I realize because of this, what I posted may be completely useless to the masses. I apologize, just trying to contribute something to keep us all on our toes.
Do you use a 30 day NL on your cracks? We use a much shorter timeframe for our NLs in crack. did that to match a customer's shorter term physical fuel buying needs and decided we liked it. typically go with the short term change in NL trend and trade it into the prior short term NL trend change or flattened area then look macro. the flexibility of ACD still astounds us.