The CRB TrendTrader report is Long 2, 5, 10 year T Notes and Short 3 Month Eurodollars. Flat 30 Year T- Bonds.
See full position report below.
Remember - day traders work for the markets - Trend Traders let the markets work for them, the Trend is your friend!
The CRB Futures Market Service is one of the oldest and most respected market letters in the industry since 1934.
U.S. Interest Rate Markets
June 10-year T-notes this morning are trading down -1 tick. T-note prices yesterday showed some weakness early in the session but then strengthened to settle up +3 ticks at 117-165. Bullish factors yesterday included (1) the upward revision to Q4 nonfarm productivity to +6.9% q/q from the previously reported +6.2% q/q, (2) weak wage pressures after Q4 unit labor costs were revised down to -5.9% q/q from a previously reported -4.4% q/q, which led total US labor costs to decline -1.7% in 2009, the biggest drop since records began in 1947, (3) the unexpected drop in Jan US pending home sales (-7.6% m/m versus expectations for +1.0% m/m), and (4) comments from St. Louis Fed President Bullard who said that he sees a "substantial number" of US bank failures in 2010 and that low interest rates are "appropriate" as the economic recovery is still in its early stage. Bearish factors included (1) the larger-than-expected decline in weekly continuing unemployment claims which fell to their lowest level in 14 months (-134,000 to 4.500 million versus expectations of -17,000 to 4.600 million), and (2) hawkish comments from Chicago Fed President Evans who said that "leaving the current highly accommodative monetary policy in place for too long would eventually fuel inflationary pressures."
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About CRB
The Commodity Research Bureau has been leading the world in commodities research and analysis since 1934. Based in Chicago, Illinois, the firm has been the innovator of the CRB Indices, as well as the publisher of the CRB Yearbook, Encyclopedia, CRB Price Charts, TrendTrader and Futures Market Service newsletters.
About CRB TrendTrader
In 1963, the Commodity Research Bureau developed a computerized trading system for the purpose of removing the emotional human element from market forecasting. Since then, countless trading programs, timing theories, and techniques have been designed and popularized by an even wider universe of individuals and companies for the purpose of "beating" the futures market. Yet, today, CRB's TrendTrader remains one of the oldest and most respected technical daily market letters.
TrendTrader system analyzes four different technical studies to categorize markets as trending up, sideways, or down. These four studies are a combination of moving average, price volatility, market momentum, and various time cycles. Support and resistance levels are recalculated daily and serve as "stops" when the market is in a trend phase and mark the breakout levels for new up or down trends when markets are in a sideways mode.
The system is for medium to long-term trading and is designed to maintain positions throughout minor and medium-term corrections. TrendTrader tracks over 79 markets, including foreign exchange (FX), stock indices, interest rates, metals, energies, grains, meats, foods & fibers and exchange traded funds (ETF).
