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5-21-12 SWING TRADES

The U.S. 30 year bond has resumed the strong uptrend it has been in roughly eight weeks ago.  The U.S. stock indices are currently is a retrace phase after failing to make a bullish breakout on the yearly profiles.  This failure generated sell signal and these markets have continued to sell off since this sell signal right into the close on Friday.  

The 30 year bond has extended the bullish uptrend on the Zone-Trader Yearly Profile, and it has also made a bullish breakout on the quarterly profile and currently poised to hold the time filter above the top of the persistence zone, which tells the bulls are taking control of the market on the quarter.  Look to buy the 1st retrace utilizing daily candles.  Buy USM12 at 143 27/32, place stop at 141 

Buy July Wheat at 640 with a stop at 600.  This market failed to make a bearish breakout on the Zone-Trader Quarterly Profile, while simultaneously failing to hold the time filter below the bottom of the Persistence Zone, which tells us that the bears failed to the take control of the market.  Now WN12 has made a bullish breakout on the Zone-Trader Quarterly Profile and is currently trading above the top of the PZ.  July Wheat has also failed to confirm a downtrend on the Zone-Trader Yearly Profile and is now reversing towards the Zone-Trader Pivot or the point of control, which strengthens the buy and suggest more upside movement possibly to 935 2/8.

Buy June U.S. Dollar DXM12 at 80.480 with a stop at 78.660.  This market is above the Zone-Trader Pivot on the Yearly Profile and attempting to make a bullish breakout, which suggest to buy retrace moves on smaller time frames.  DXM12 has made a bullish breakout on the Quarterly Profile generating a buy signal on the 1st retrace, i am utilizing the price action on the Yearly Profile to find an entry point with support on the Quarterly Profile.  

Buy July Corn at 617 with a stop at 576.  This market has failed to make a bearish breakout on the Zone-Trader Yearly Profile and is now reversing to the Zone-Trader Pivot at 677 2/8.  July Corn is currently attempting to make a bullish breakout on the Quarterly Profile and the Zone-Trader Pivot will be a key support at 605 2/8.