MMCLUB

[Naztrader]

QQQ's...........................................................

I'm also short the Cubes right here in the 33.60's as a hedge against my new long positions. I dumped all previous long positions yesterday.

This bounce in ES has put in a lower high so far, and the shorter intraday oscillators have rolled over. If this pause turns out to be a bull flag, then we target higher prices to 1020ish, but I don't think so at this point. The put to call ratio at .94 gives me pause, but yesterday saw relatively high readings do nothing to stem the tide of sellers.

Ten Year note futures are holding steady/ rising at the 113 level for the December contract. The yield bottomed out today at 4.08% with 3.85% remaining the 50% retracement target. The near term upside objective is 113.30 and support at 112.11. The Budget deficit reality and the equity break are positive for Treasuries.

Good luck.


Regards,


Naz