10YR TREASURY NOTES

Today's MARKET STATE for TY: **BEAR TREND**

- Technically the MKT is vulnerable to the offer. On the SELL side accept all BREAKOUT, FADE and REVERSAL signals. The MKT is on edge and any negative signal, especially below the previous session high, is an opportunity. Anticipate a price "zone" around a major resistance point to FADE. Have a plan and be ready. If your stop gets hit and the MKT does not immediately follow through, consider re-entering, even doubling up if there is structure to define low risk.

- On the BUY side REVERSAL strategies can be executed off of major support levels but preferably after an emotional sell off. This is an aggressive strategy and any profits should be realized at the previous support failure points. Avoid DP FADE BUYS even with confirmation, as this is more likely a plateau for a BREAKOUT SELL strategy. UP BREAKOUT strategies are not recommended but do have a better chance of succeeding than a DP FADE.

Today's PRICE MAP Performance for TY

 

Wrap Up
- Today was a great day for traders using the JS Price Map in the 10YR TREASURY NOTES market.  With an MC Value of -5 and a BEAR TREND Market State, the trader is looking to accept ALL SELL strategies (BREAKOUT, FADE AND REVERSAL) below the R Level.  Since the market started the day just below the DIR, the test of the DIR around 5 A.M. gave us an opportunity to execute a SELL DIR FADE.  A second opportunity was presented when the market made another attempt at the DIR just after 6 A.M., failed to achieve this level, and then sold off dramatically.  The market continued to sell off until it found support at the minor level 133'075.  From here we saw a sharp reaction back to the DP, and a failure from this level, which could have been a good place to add leverage to the short position as negative structure remained in tact, and price failed to hold above the DP just before 8 A.M.  The price then had another dramatic sell off and achieved our downside target of the DT1 where profits should have been taken.

SWISS FRANC

Today's MARKET STATE for SF: **NEUTRAL NEGATIVE EXTREME**

- The MKT is on the offer and pressing into the lower extreme. On the SELL side accept UP REVERSAL strategies over FADES, expecting more of a trendless trading environment rather than a new negative trend move. Avoid DP BREAKOUT strategies but rather FADE into a positive reaction after a negative breakdown signal against the DIR. The MKT is extended and will have trouble sustaining any new weakness. Use aggressive position management and anticipate potential early exit points to reduce profit give-back.

- On the BUY side DP FADE and REVERSAL strategies are qualified, however the FADE is a lower probability and should use tight risk criteria. DP and DT1 REVERSALS can risk more but should also go for more profit with the expectation of the MKT putting in a short term turning point signal. UP BREAKOUT strategies are aggressive and should just "go" and not look back. Risk less; use aggressive position management and conservative profit limits.

Today's PRICE MAP Performance for SF

Wrap Up
- The SWISS FRANC has produced a NEUTRAL NEGATIVE EXTREME Market State with an MC Value of -3, telling the trader that the market is pressing into the lower extremes.  The R Level at the UP represents the "Breaking Point" for the negative bias for the day.  The market churned around the DIR in the early morning session, then began to rally just after 3 AM.  The market continued to maintain POSITIVE STRUCTURE (higher lows and higher highs) through the morning session and presented a BUY UP BREAKOUT trade around 6 AM.  The R Level at the UP adds confirmation to this trade because it has not only been creating positive structure throughout the morning, but the BREAKOUT from the UP also negates the negative bias that was represented by the "breaking point" at the R.  From here, our Market State expectation is for the trade to "just go" and the trader should exercise "conservative profit limits".  Given the state of the market, the UT1 is a solid expectation for profit taking, and this target was achieved at 9 AM.

CANADIAN DOLLAR

Today's MARKET STATE for CD: **NEUTRAL POSITIVE SHIFT**

- The MKT is in neutral, working a slight positive bias against a negative underlying trend. Opportunity exists on both sides of the MKT. However, the threat of the return of the negative momentum must be respected.

- On the SELL side accept BREAKOUT, FADE and REVERSAL strategies off major inflection points with the expectation that the negative momentum is going to resume. DP SELL BREAKOUT strategies can risk a little more of current events and other MKTs of confluence confirm a negative posture.

- On the BUY side DP FADE strategies are valid, however the underlying momentum remains negative and any long opportunity is short term. DP BUY REVERSAL strategies should be avoided, as any break in momentum is a sign that the BEAR TREND is ready to resume. UP BUY BREAKOUT strategies are aggressive and the better opportunity is a DIR FADE after a positive breakout signal.

Today's PRICE MAP Performance for CD

Wrap Up
- A MC Value of +2 and an R at the DT1 set the stage for the positive Sentiment Bias for today's action in the CANADIAN DOLLAR.  The Market State warns of a possible decline; however, by placing the R Level at the DT1 the analyst is telling the trader that above that level, the expectation is for a move higher.  There was an emotional sell off just after 7 AM that brought prices down below the R for a brief moment.  Prices then rallied sharply back to the minor level, where they digested for about an hour.  The opportunity existed for what would have been a BUY R REVERSAL strategy.  Although price action only penetrated through the R for a brief moment before rallying, the penetration and rally back through this level presented the trader an opportunity to go long, which eventually proved to be a very profitable trade.  The market rallied above the minor level, found support at this level around 8:30 AM, and then began another sharp rally.  This rally took prices all the way up to the DIR at 10 AM where profits should have been realize on a well executed trade.

NATURAL GAS

Today's MARKET STATE for NG: **NEUTRAL NEGATIVE SHIFT**

- Technically the MKT has produced a negative signal against a positive trend. On the SELL side avoid UP and DIR FADE strategies until after the previous session low point or major support level has been broken to confirm a negative shift in momentum. Until then, a better opportunity will be a UP REVERSAL strategy. DP SELL BREAKOUT strategies can be profitable but they are aggressive and should look to take profits and potentially REVERSE long at support targets. The trade is corrective and the underlying positive tone must be respected.
- On the BUY side accept BREAKOUT, FADE and REVERSAL strategies off major inflection points with the expectation that the positive momentum is going to resume. DP REVERSAL strategies are recommended over FADE strategies, which should have at least 1, if not 2 challenges to the support integrity before executing a long off it. UP BREAKOUT strategies can risk a little more if current events confirm a positive posture. If not, a better approach would be to FADE the DIR after a UP breakout.

Today's PRICE MAP Performance for NG

Wrap Up
- Today in NATURAL GAS we are reminded of the power of the JS Services Price Map.  The NEUTRAL NEGATIVE SHIFT Market State tells us that the market has produced a negative signal in an underlying positive market state.  With the R Level at the DIR, the analyst is telling the trader that above this level, our expectation is for the positive trend to resume.  Around 9:30 AM the market took off, crossing the UP and presenting the trader with a BUY UP BREAKOUT strategy.  Our ideal profit target is two major Price Map levels away from our entry point, in this case, the UT2.  The price rallied violently up to this level, and respected it with astonishing accuracy.  By utilizing the power of the JS Services strategy-based trading approach, a trader would have been able to participate in this sharp rally, and realize a substantial profit from it.

EURO-BOBL

Today's MARKET STATE for BOBL: **NEUTRAL DIGESTION**

- Technically the MKT is "on the fence" with the potential to go in either direction or nowhere. Pick your points and have no expectations, as the likelihood of this MKT trading sideways is high.

- On the SELL side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The pivotal nature of the session does have the potential to be the starting point for a new move. However, the probability of any trend action is more likely to just be the MKT defining its new consolidation extreme.

- On the BUY side BREAKOUT, FADE and REVERSAL strategies are valid, however profit and position risk management should be aggressive and anticipated. The MKT is "on the fence" and does have the potential to be the beginning of a new trend move. The probability of a new trend move is low. However, any price trend action is more likely to just be the MKT defining its new consolidation extremes.

Today's PRICE MAP Performance for BOBL

Wrap Up
- Coming into today's trading session for the BOBL, our expectation is for a sideways trading day.  With the R Level at the DIR, the analyst is telling the trader that this is the "breaking point" for the market to make a move higher.  Since we are in a NEUTRAL DIGESTION Market State, the probability for any new trend action is low, and a breakout above the UP is more than likely just establishing a new consolidation extreme.  Sure enough, this is exactly what happened in the BOBL.  Around 4:30 AM we are given a BUY UP BREAKOUT opportunity above the R Level.  Since the Market State calls for tight position management, profits should be realized sooner, rather than later.  An opportunity for profit taking was given shortly before 5 AM, which would have realized a quick profit for an agile trader.  From here the market sold off, met resistance just below the UP and then rallied back up to the minor level.  It then retraced back to the UP, put in a HIGHER low, signalling positive structure was still in tact, and offered another opportunity to enter from the long side when it took off from the UP around 6:30.  Since our expectation is that a new consolidation extreme is being formed, rather than a new trend beginning, a valid profit target would be at the UT1.  Again, the market rallied to the UT1, giving the trader an opportunity to take profits shortly after 9 AM.  The break in positive structure (lower low) just after 10 AM served as a warning to the trader, and the price action moved sideways inside the newly formed digestive zone for the remainder of the session.

5-YR TREASURY NOTES

Today's MARKET STATE for 5-YR TREASURY NOTES: **NEUTRAL DIGESTION**

- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade.  UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.

- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.

Today's PRICE MAP Performance for FV

Wrap Up
- Today in the 5-YR TREASURY NOTES, we had a NEUTRAL DIGESTION Market State with the R Level just above the UP.  With a NEGATIVE bias and the R Level above the UP, the analyst is reiterating the fact that the highest probability trade today is on the SHORT side of the market.  A little before 8 AM, we are given the SELL DP BREAKOUT strategy that should have been executed.  Although the Market State warns that this could be a laborious trade, the price moved down to the DT1 with relative ease, and gave the trader an opportunity to realize profits toward the end of the trading session.

CRUDE OIL

Today's MARKET STATE for CRUDE OIL: **BEAR TREND CORRECTION**

- Technically the MKT has produced a counter trend signal and may be set for a short term shift in sentiment. On the SELL side REVERSAL strategies are recommended over FADES as the corrective trading environment is expected to produce some false positives on resistance violations as it probes higher.  DIR and DP BREAKOUT strategies should just "go" with expectations that the negative momentum is going to resume course. Anticipate profit management adjustments as sentiment can turn quickly.

- On the BUY side DIR and UP BREAKOUT should just "go" and hold structure. Risk less and go for more with the expectations of an emotional shift in sentiment supporting the technical positive signal. A break in the momentum of the positive signal and this strategy should be avoided as follow through in either direction is unlikely. Avoid DP REVERSAL strategies, as any break in structure is a sign that the Bear Trend is going to reestablish itself. FADE strategies off the DP should be entered sooner "higher" than later " lower" with expectations that the corrective rally is going to continue to run and keep pace.

Today's PRICE MAP Performance for CL

Wrap Up
- Today we have a BEAR TREND CORRECTION Market State, and an MC Value of +1.  With the R Level at the DP, the probability is for a counter trend rally above the R Level.  The market digested between the DIR and the minor level within the Critical Range until about 8:30 A.M. when we were given a BUY DIR FADE opportunity above the R Level.  This strategy is in line with our expectations for the day, as a counter trend signal has been produced and the placement of the R Level at the DP confirms the positive posture.  The market continued to gain throughout the morning, and achieved the UP a little before 10 A.M.  Since this is still a BEAR state, the trader must respect the underlying trend and implement tight position management as to minimize profit giveback.  The market digested around the UP for a few hours, and eventually met resistance at the minor level between the UP and UT1.