TheChek News Flow

Good Morning,

 

Here is a quick update after the sell-off in US stocks, rally in Eurodollar & Treasury market and breakdown in Crypto! Also find attached our weekly note + Trade Ideas from earlier this week. Next weekly paper and trade idea Note will be sent out early next week – have a great weekend.

 

S&P500 Futures (4’449 Last) – Watch trend line support and 200dma at 4400 area. In case of a break below this level next downside target would be the horizon support level near 4258.

 

Nasdaq100 Futures (14674 Last) – Broke below the rising trend line and also below the 200dma. Support is 14’535 and over head resistance is 200dma at 14990 and then yesterday high at 15’340.

 

Russell 2000 Futures, RTY1 (2023 Last) – The break below the 2100 area is a bearish development which opens more downside possibly towards the 38.2% Fibonacci support level at 1870.00. The bulls want to see a sustain break back above the 2100 area to negate further downside.

 

Eurodollar March 2023, EDH3 (98.49 Last) – Bouncing back towards the 98.52 resistance zone now. Break above it would open a little more upside towards 98.625 area. In case of a move lower support is 98.415 and 98.20. Trade Idea: Buy a 0EH2 98.625/98.4375 1:2 Put spread and receive 2 ticks.

 

 

Eurodollar March 2024 Future EDH4 (98.045 Last) – Has reached an equal A B C pattern target near 97.895/97.93. Overhead resistance is 98.11/98.155 and a break above it would allow further upside in prices. Trade Idea: we believe EDH4 has reached strong support levels and therefore like selling downside puts, 2EH2 98 Puts are trading at 13 credit.

 

TYH2 (128-06 Last) – Reached a low at 127-02 and bouncing back higher now. Watch 128-19.5 / 128-27 level as resistance, trend remains lower as long as below these levels but...a sustain move above these levels would be a first positive development for the bulls since the start of the year. Trade Idea: Buy a TYH2 128.5 / 127.00 1:2 Put Spread and Sell a TYH2 130 Call and pay 6/64.

 

USH2 (155-15 Last) – reached a 153-07 low and bouncing back higher now. Watch 155-21 and 156-28 as resistance trend remains lower as long as below these levels but...a sustain move above these levels would be a first positive development for the bulls since the start of the year. Trade Idea: Buy a USH2 152 / 150 / 148 P ladder and pay 10/64.

 

Gold Futures, GC1 (1840 Last) – Nearing overhead resistance between 1860/1882 – a sustain break above this level would suggest the long term consolidation is over and open an upside target near 2100.

 

Bitcoin Futures, BTC1 (38’720 Last) – Bitcoin continues to make lower lows and lower highs and as long as it remains below 44’450 (recent lower high) trend remains lower towards the 2021 low around 30’000.

 

Ethereum Futures, DCR1 (2845 Last)– Has reached the support near 2800. A break opens another leg lower towards the 2021 low at 1854. On the upside, watch 3413 which is the recent lower high – as long as price remains below it bears are in control.

 

Open/Closed Trading Ideas 2022

 

Barry Lyss - Makor Capital Ltd

11 Menachem Begin St., 26th FL

Ramat Gan 52681, Israel

 

Trading Desk         +972 3 545 37 90

Cell Phone             +972 52 2445 277

Fax                             +972 3 716 2680

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all investors. Investors should make their own investment decisions based upon their own financial objectives and financial resources and it should be noted that investment involves risk, including the risk of capital loss. Past performance is no guide to future performance. In relation to securities denominated in foreign currency, movements in exchange rates will have an effect on the value, either favourable or unfavourable.

 

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