Commentary

7/30/20 xMF At Current Levels

A nasty spot to have been long overnight.

The painted over weakness in the 3 and 7 day averages has been washed away at the moment. Further weakness will take out the 13 day EMA, so things could end up x0F. The 54 day average at about 310 is a reasonable spot more serious weakness might be contained. The 52 week at about 300 is the suggested bottom of the summer range.

xMF only has appeared 6 days in about 5 years, it’s not bad, sort of a slightly weaker xCF. x0F has appeared 17 times, and has been negative, even for trend following longs.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s