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Emini Non Correlation Bear In Play


Emini Non Correlation Bear In Play

Good Morning Traders,

As of this writing after London Opening

US Dollar: Down at 94.600. The US Dollar is down 31 ticks and trading at 94.600.
Financials: The Sept 30 year bond is up 2 ticks and trading at 168.13.
Indices: The June S&P 500 emini ES contract is down 10 ticks and trading at 2093.75.
Energies: July Crude is down at 48.59.
Gold: The August gold contract is trading up at 1283.50. Gold is 76 ticks higher than its close.

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 lower which is not correlated.

The Market Bias is downside today.

Bear in play