#us10y#interestrates#contrarian
US 10 year is overbought on a WEEKLY timeframe. It can go higher a bit longer until the mid terms but afterwards, high probability of going down
$MU Trade Idea: Oct 2 1200C
Trigger: 1100 ✅
Target: 1200 🎯
Stop: 1050 🛑
MU earnings are Wednesday, with roughly a 100-point move priced in for the week.
If MU gets a positive reaction, a move toward 1200-1250 is in play.
As long as MU can establish a new base above 1000 during Q4, 1500+ becomes the bigger upside level to watch.
In COT Report data for Bitcoin futures, the non-commercial traders are the smart money. That differs from most other contracts, where the commercials are the ones to follow. Few traders qualify as commercials in Bitcoin futures.
The non-commercials just recently went to an all-time record net long position. They were correct in betting on the rally which has unfolded since July. They initially unwound some of those longs into that rally, which is very normal.
What is unusual is that with the pop earlier this week, these traders actually were adding more longs instead of harvesting gains. That is a strong statement that they expect more gains to come.