Gold, Oil & Indices (Equity & Bond Indices)

dave
most hedges funds raising heir bullish position on crude oil=
do u think its the closure of some of them or this congestion is breaking above the apex point.
are they short term trading their bullish bet or long term? that is the question or part.

a break below the 85.8 give the level of 81.25 but i still doubt the market is poised to correct right now.

Both the SPX cash and the ES futures made their 16th Nov lows at the 61.8% ret of the move up from the June lows. They have both since retraced 50% from the Sept highs.There is not much difference now in fair value. I would expect this move up to be the first leg up because it does not look like a corrective pattern in and of itself. It looks quite impulsive on daily timeframe. 50% ret level will often provide a reaction of some degree. Also that level coincided with the trend resistance lines referred by Q. The ES stopped right on its trend resistance, the SPX showed a false break.

dave
CL buying signal at 78%ret 88.12

DaveO
yes these are possible levels for the active bund maturing december. But the big thing here is the contango with an unusual high spread and that the spread is somehow magically constant.
I havn't seen such any time before . Some folks say the bonds know in advance what stocks and currencies learn later. In terms of yield curve this had been true in most cases.

bund has potential ABC symmetry from 146.83 high to 141.25 low to 144.34 high to 138.74 target level with the actual low being at 138.40. Implications if validated new highs above 146.83 on continuous symbol. However this conflicts with popular opinion for risk-on expectations. Me, I know nufink.