Will be relying on my ACD indicators to navigate thru this G20 summit. There will be alot of "noise". Set those stops and watch for fake outs!
My Macro score for YM for friday was +12 (coming from a +6 on thursday). And with a little help from Trump and Xi, the number was prophetic.
Maybe @Maverick74 can weigh in on the recent yield curve inversion? We haven't had his expert insight in a while.
Interestingly, I have the Dow today at a 30 day macro score of +10. Today the 30 Day macro score remains +10 (the 15 day Macro ACD score is +6). We saw the Dow go down 700+ points and then snap all the way back up. I also saw the DOW find resistance 3x at the 25250 range. My guess is an up day tomorrow.
Dow futures open down -200.00 My 30 day Macro is at +10 (for two days in a row). 15 day Macro score is +6. Either the macro score is lagging or we are in for a turn in trend. Will be interesting to see.
The 30 day tends to lag in regards to short term moves. The 5 day number line is useful for establishing momentum in shorter time frames (< 1 week) in my opinion. I think the key right now is paying attention to where indices are moving in regards to their monthly, quarterly, and yearly levels in combination with the number lines. If, for example, we see failed A downs at these levels in combination with strong number lines then that's a pretty good signal that we still have upside.
Only thing worth noting is that NQ has gone to a +11 (from a +9) and the 15 day is +7. Also RTY looks over sold at these levels (but who knows).
Sorkin: "Isn't it about the product?" Jones: "It's not that black and white. It's gray. Really it's about a good A through the pivot."