My system has a massive bull signal. XJO gapped up 45 points at the open and retraced down only 13 points into the overnight trading range while it went up 17 points at close. Buyers were in complete control throughout the day and there was no looking back. This indicates that the market is convinced that the downturn in XJO has ended. I'll be buying all XJO dips aggressively.
Globally, you can see a return of all the usual Trump reflation trades returning. The effects can be seen across currency lands and asset classes - DXY, GLD, European indices and bond market. Clear signal XJO is going higher from here imo. My only concern is that everyone will be following up on Trump trades and I suspect markets might get choppy, but the direction seems clear.
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- Weekend Charting and Chat - 10th February 2017
My system has a massive bull signal. XJO gapped up 45 points at...
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