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8Th June 2016 Market outlook and Directional Correlation Bias

Emini on High's

8Th June 2016 Market outlook and Directional Correlation Bias

Good Morning Members,

Hillary Clinton NominationAs of today London session

US Dollar: Down at 93.730. The US Dollar is down 67 ticks.
Financials: The Sept 30 year bond is up 6 ticks and trading at 166.21.
Indices: The June S&P 500 emini ES contract is down 3 ticks and trading at 2109.50.
Energies: July Crude is up at 50.41.
Gold: The August gold contract is trading up at 1254.50. Gold is 75 ticks higher than its close.

The market seems not to be correlated market. The dollar is down- and crude is up+ which is not normal but the 30 year bond is trading higher. The Financials should always correlate with the US dollar such that if the dollar is lower then bonds should follow and vice-versa. The indices are down and Crude is trading higher which is correlated. Gold is trading up which is correlated with the US dollar trading down.

Asia traded higher with the exception of the Hang Seng and Shanghai exchanges which traded lower. London session is trading lower.

Economic News – Need to be alert

– Job Openings is out at 10 AM EST. This is major.

– Crude Oil Inventories is out at 10:30 AM EST. This is major.

– 10-y Bond Auction starts at 1 PM EST. This is major.

Today directional bias seems to be downside.