Quick Charting MultiMarket Money Flow June 4
Today we’re seeing volatility spike in all markets with a “Risk-Off” perspective sweeping the scene.
Let’s plot today’s price movement and determine where money’s flowing… and where it’s going.
The Multi-Market Grid plots the @ES Futures (Stock Market), @GC (Gold), @CL (Crude Oil), and @TY 10-Year US Treasuries.
First, money is leaving Stocks, Gold, and Oil as breakdowns have developed in each of these “Risk-On” Markets.
Stocks moved down away from the 2,120 level toward the 2,100 pivot target where we are now.
Gold broke down away from the $1,200 level, out of a small rising trendline channel – it’s now at the $1,175 pivot.
Oil – as was logical – broke down away from $61.00 on a clear negative divergence and now tests the $58.00 level.
Treasuries (see my update post from yesterday morning) are catching a bid with a bounce up off the 125 level.
The Grid above is the short-term picture of “Risk-Off” protection and sell-swings/breakdowns as noted.
Even if you don’t trade these markets, it’s helpful to plot money flow in terms of “Risk-On” or “Risk-Off” across the board.
Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.
Corey Rosenbloom, CMT
Afraid to Trade.com
Follow Corey on Twitter: http://twitter.com/afraidtotrade
Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).
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