Charlies Comments 04-12-2018

Trade Date: 4/12/2018 Commentary (delayed until 10.20 AM ET)
ZN R1-R4: 120-265-120-285, 120-305-121-005, 121-035-121-04, 121-08-121-12

ZN S1-S4: 120-24-120-24, 120-20-120-215, 120-16-120-175, 120-08-120-12

ZN/ZB Comments: Equities began a recovery in London after Asia followed the US’s lead and sold. Trump tweeted that he will decide when Syria will be attacked and it could be later than sooner. The mkts rallied on this tweet. Little news OVN. The EU’s composite IP decreased. Today’s news rarely impacts the trading. Down to Trump’s tweets and comments from China, central banks. Today’s news: Jobless Claims is expected at 230 K, Import Prices at +.2%, Export Prices at +.3%, N Gas Inventories at -11 BCF. The focus will be the 30 Y auction, the direction of equities and news spikes from administration officials and China. Resistance begins at 120-28/121-00 and support is at 120-20/24 as the mkt opens. Will play for a trading range mkt w/support for the 30 Y auction supporting the mkt at some point. First sell 120-27/31 followed by 121-03/07. Cover at 120-21 OB. First buy is 120-17/21 followed by 120-09/13. Exit at 120-31 OB.

ZB R1-R4: 146-04-146-07, 146-11-146-14, 146-16-146-21, 146-24-146-28

ZB S1-S4: 145-25-145-28, 145-19-145-21, 145-14-145-17, 145-04-145-12

ES R1-R4: 2657-2662, 2665-2670, 2672-2678, -

ES S1-S4: 2645-2650, 2639-2640, 2630-2635, -

ES Comments: Is the Syrian attack on or off. Trump’s tweet that the Syrian attack could come at any point. He hasn’t said when to date. It could come at a later date. That gives him a lot of room on Syria. And maybe he won’t attack. Syria gassing its own people and the world’s reaction to such does lead to many questions. IT would make more sense if a rebel group staged a gas attack to garner more US support. Time, as always, will tell. Little news OVN. The EU’s economy is showing signs of contraction. Today’s news rarely impacts the trading. Down to news spikes from administration comments and Trump’s tweets. Resistance begins at 2660/65 and support is at 2640/45 as the mkt opens. The first trade favors the long side. IF 2665/70 holds, OK to trade from the short side. First buy is 2646/51 followed by 2636/41. Exit at 2659 OB. First sell is 2659/64 followed by 2669/74. Cover at 2651 OB.


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