It's Sunday night and the US futures are up big, about 6pts on ES, 4.5pts on ER2, and 42pts on YM. Why? JPY and US bonds sold off to reaction to China's interest rate hike and the Asian market is trading up. The chart for the last month tells a different story of where things look like they are headed.
The market looks setup for a selloff. Vix and bonds on support, JPY has a bull flag, and tommorow is the day after option expiration. I will wait for my signals, but things don't look good for the bulls.
I'm a little scared of this next week, but I think I have to face my fears to become a better trader. Good luck to all those trading next week, unless of course, your the one taking the bet against me.
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