Bond Update …

As an update to my prior post on the bigger wave structure for bonds (click here), I think that we are likely inside the corrective wave move after the first leg higher out of the major area of support I identified in that earlier blog post … here are my current thoughts.

US 30-Year Treasury Bond Futures (ZB) – 195 Minute Chart

Based on the look of the move/candles, the move higher out of support for bonds was clearly impulsive and not corrective.  Therefore, I would expect at least another push higher by bonds after a period of consolidation/minor correction.  The next move higher is likely to be made from a bigger level of support so I would look for price to make it down somehow into the typical SLOT support zone.

The next push higher will I believe, offer another attractive risk/reward trade and one that traders should be willing to swing trade.

Cheers … Leaf_West

FB Update …

AAPL and FB have been the strongest tech stocks of late while many of the big winners of 2017 are acting weaker than the overall market.  AAPL triggered my entry level this morning and FB is testing the 30-min ATR audio alert that I have in place at $167.66.  I don’t really want to try and get long FB at these levels, as I would rather see the bigger time frame ATRs flip to the condition of support.  Overall though, FB looks like a stock that wants to head higher once the daily bull-flag pattern has run its course. Continue reading