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Re the above image - gold & bonds are up as per the arrows? how is this bullish for ES? Or do you mean after the initial ramp and level off? As per your previous comments:
"Bonds tend to move inversely of the ES (ES goes up, Bonds go down).
Gold tends to move inversely of ES as well"
Also - the bond vs stocks correlation broke down years ago, see chart below for 1 month rolling correlation, ok its negative now (just happened) but this has happened infrequently in past few years and it was +0.80 3 months ago:
I am aware that you are trading intraday - but if the correlation is not negative long term then surely intraday inverse correlations are random at best?
Those of you in the room this morning know that I took this trade however I thought I would post it here for the record:
This afternoon we broke the resistance but ended up retracing immediatley after. This is leaving me a tad skittish but I will hold unless price dips more.
I am still in but my stop is around 1262. If I take the stop, I will still make $50 which will cover gas and lunch tomorrow
EDIT: I added one contract to ZB. It is just an EOT add. I am fine with getting stopped on this. GC is at the top of the months range which is concerning and it is showing weakness....