etfmsolutions: Dollar Down, Bonds Up...09.06.16

Tuesday, September 6, 2016

Dollar Down, Bonds Up...09.06.16

Sector rotation kicked in today with the dollar down and bonds, gold, oil and utilities up. It may smell like a breakout but we're still locked midstream of the narrow range channel that's been the market's stomping ground for the past 5 weeks.
Are we ready for a change? Maybe, but as usual the FED's dithering logic and double speak can only contribute to keeping the markets wary of any consensus.
All this market intraday volatility has forced me to adhere to a short time trading frame as in the case of TLT which we went Long on Friday's first hour and closed today as it rolled off the R3 pivot in the afternoon.....which looks like a good trade right now but tomorrow will be the test of that decision.
65 minute TLT bars shown below.

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