Here are some of the more noteworthy number lines through the first 3 trading days of the month. Bonds +7 (A ups every day this month so far!) Euro -5 Gold -5 Corn -4 Us Dollar +5 ES -4
They have been discussed extensively on this thread. Do a search under this thread on the upper right hand corner and type in number line. There is quite a bit of info there.
Nat Gas took a little spill today down 3.5%. Looks like it wants to test the monthly A down at 3.40. The weekly A down is in the 3.41 area. So solid level to lean on if it holds.
The action in bonds is impressive, but they're not making much headway toward the monthly A. So what do you make of that? It's strong intra-day, but not really stringing together multiple days of rally. Is this just an expression of folks moving money to bonds when equities fail to follow-through? Just curious as to what people think.
This is where the number line really shines in my view as it's revealing price action that is not obvious on a daily chart just as you mentioned. True it has not made it through the monthly A up yet but that is just one strong up day away. We failed at the weekly A up today. If we take out that weekly and confirm along with the strong number line, that will be a strong setup.
Many thanks, that makes sense. I think I was seeing this two weeks ago in the XLV as well. Number line actually got to 9, but the ES was tanking. When the market turned around last week, the XLV outperformed. Great tell, thanks a ton Mav. Really loving the number line.