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Updated: 1 hour 56 min ago

Notes From Underground: Dissecting the Fed With Darius Dale

Thu, 08/04/2022 - 13:01
I yet another effort to understand where are going with the FED and their so-called NEUTRAL RATE, FRA hosted a podcast with Darius Dale of 42 Macro. It entertains themes familiar to readers of NOTES FROM UNDERGROUND as yield curves and currencies provide the backdrop for a great part of the analysis. We also discussed the next vote of the FOMC to see if the newest GOVERNORS finally find their voice and begin elevating their research into policy. Lisa Cook and Philip Jefferson are well known labor economists that Professor Jason Furman called the most dovish appointees in decades, and yet we

The Roundtable Insight – Daniel Lacalle, Peter Boockvar & Yra Harris on Economy & Financial Markets

Thu, 08/04/2022 - 12:55
Peter Boockvar: Chief Investment Officer at Bleakley Advisory Group and Editor of The Boock Report Daniel Lacalle is a PhD in Economy and fund manager. He holds the CIIA financial analyst title, with a post graduate degree in IESE and a master’s degree in economic investigation (UCV). Yra Harris is a highly respected global macro analyst and trader for four decades---knowledgeable in Foreign Exchange, Global Bonds, Commodities and Equities. His work is subscribed to by thousands and is highly valued by professional global macro discretionary traders. Read the NOTES FROM

Notes From Underground: We’re Back?

Thu, 08/04/2022 - 12:52
It has been quite an extended period since my last post, but now I’m trying to catch up on some reading and relevant research on all things pertinent to GLOBAL MACRO. Following the FEDERAL RESERVE’S INTEREST RATE DECISION and the POWELL PRESS CONFERENCE, I sat down with Richard Bonugli, Peter Boockvar and Daniel Lacalle. This 66-minute podcast is packed with several pertinent topics, including yield curves, the dollar, Europe and even ESG investments. Please enjoy and I await your feedback and hopefully disagreements. Only the parochialist in echo chambers pursue validation. Click here to

The Roundtable Insight – Darius Dale and Yra Harris on the Fed Pivot and Financial Markets

Thu, 08/04/2022 - 12:47
Yra Harris is a highly respected global macro analyst and trader for four decades---knowledgeable in Foreign Exchange, Global Bonds, Commodities and Equities. His work is subscribed to by thousands and is highly valued by professional global macro discretionary traders. Read the NOTES FROM UNDERGROUND archives to get a taste of Yra's work. With thanks to Financial Repression Authority.   ‌‍‍‍‍ CQG Integrated Client Get a 2-week free trial

Wednesday Weekly Grain Seasonal Review 8.3.22

Wed, 08/03/2022 - 09:09
Each Wednesday this article will be updated with the current seasonal study using CQG’s Seasonal analysis applied to the Soybean, Wheat and Corn markets. You can download the CQG pac providing the studies and charts here. In addition, the seasonal data lines can be pulled into Excel using RTD formulas. Below each chart are two tables. The first table is the highest correlation of the current market data to the seasonal year using a 20-day, 50-day, 100-day and the 200-day lookback periods. The second table is the previous week’s data. Seasonal analysis is about price direction or the trend.

Bullish Reversal in Gold

Sun, 07/31/2022 - 22:19
COMEX gold futures reached a record high in 2011 at $1,911.60. After a four-year correction, the price reached a bottom at $1046.20 in late 2015. In August 2020, the price eclipsed the 2011 high, soaring to $2,063, and in March 2022, a higher high at $2,078.80. Since the March all-time peak, gold futures have made lower highs and lower lows, falling to $1,678.40 on July 21. A technical pattern that day suggests that the leading precious metal may have found a bottom, clearing the path for another rally, perhaps to a higher high. Gold reaches a bottom at a higher low and puts in a bullish

Aquarius Crypto Exchange Launch

Fri, 07/29/2022 - 10:38
Aquarius Exchange is preparing to launch next month with CQG as its strategic technology partner. Aquarius will feature an open order book for cryptocurrency spot trading without maker, taker or hidden fees. Learn more and read the Aquarius white paper.   Aquarius will be available to non-US based customers through their website. This post will be updated with more information next month.

CQG 2023 What's New: Aggregation Trader

Wed, 07/27/2022 - 14:40
A new trading application is now available for traders who want to simultaneously work orders on two or more exchanges. The primary goal of this interface is to allow the trader to place/observe/modify/cancel orders for individual legs of the aggregated contracts, using dedicated individual columns. Traders can work with several 'similar' contracts from a single interface. Learn more from the Help file.

Wednesday Weekly Grain Seasonal Review 7.27.22

Wed, 07/27/2022 - 10:37
Each Wednesday this article will be updated with the current seasonal study using CQG’s Seasonal analysis applied to the Soybean, Wheat and Corn markets. You can download the CQG pac providing the studies and charts here. In addition, the seasonal data lines can be pulled into Excel using RTD formulas. Below each chart are two tables. The first table is the highest correlation of the current market data to the seasonal year using a 20-day, 50-day, 100-day and the 200-day lookback periods. The second table is the previous week’s data. Seasonal analysis is about price direction or the trend.

The Roundtable Insight – Dr. Frank Shostak and Yra Harris on the Economy and Financial Markets from an Austrian School Economics View

Fri, 07/22/2022 - 15:34
  Frank Shostak is an Associated Scholar of the Mises Institute. His consulting firm, Applied Austrian School Economics, provides in-depth assessments and reports of financial markets and global economies. He received his bachelor's degree from Hebrew University, his master's degree from Witwatersrand University, and his PhD from Rands Afrikaanse University and has taught at the University of Pretoria and the Graduate Business School at Witwatersrand University. Yra Harris is a highly respected global macro analyst and trader for four decades---knowledgeable in Foreign Exchange, Global

What's New in CQG One & CQG Desktop Version 7.6

Fri, 07/22/2022 - 12:41
Quotes QSS: Double-click on bid column will popup trading dialog to sell, double-click on ask to buy QSS: Added comment column Trading Orders widget: added categories for adding columns HMS/OTC Hedge Account Balances: added support for archived balances Manage Custom Market: Added hedge first parameter to bulk edit dialog Mange Custom Market: Updated Hedge First Threshold column   We hope that these updates help improve your trading workflow. We continually strive to improve your CQG One and CQG Desktop experience. We invite you to vote for or enter features you want via our

Wednesday Weekly Grain Seasonal Review 7.20.22

Wed, 07/20/2022 - 11:21
Each Wednesday this article will be updated with the current seasonal study using CQG’s Seasonal analysis applied to the Soybean, Wheat and Corn markets. You can download the CQG pac providing the studies and charts here. In addition, the seasonal data lines can be pulled into Excel using RTD formulas. Below each chart are two tables. The first table is the highest correlation of the current market data to the seasonal year using a 20-day, 50-day, 100-day and the 200-day lookback periods. The second table is the previous week’s data. Seasonal analysis is about price direction or the trend.

Wednesday Weekly Grain Seasonal Review 7.13.22

Wed, 07/13/2022 - 08:16
Each Wednesday this article will be updated with the current seasonal study using CQG’s Seasonal analysis applied to the Soybean, Wheat and Corn markets. You can download the CQG pac providing the studies and charts here. In addition, the seasonal data lines can be pulled into Excel using RTD formulas. Below each chart are two tables. The first table is the highest correlation of the current market data to the seasonal year using a 20-day, 50-day, 100-day and the 200-day lookback periods. The second table is the previous week’s data. Seasonal analysis is about price direction or the trend.

Excel Functions for Automatically Formatting Market Prices

Mon, 07/11/2022 - 10:37
When using RTD functions in Excel to pull in market prices you have to manually format the prices. Excel does not know that the E-mini S&P 500 price has two decimals places (i.e. 3909.25) and the Euro FX has 5 decimals places (i.e. 1.06525). Then, there is also formatting price issues with Fixed Income futures: Do we want the price in 32nds or decimals? And, if you do not manually set the correct number of decimals then the prices will jump back and forth sideways if the last price has zeroes at the end (i.e. EP displays 3909 and then 3909.25). Ideally, the goal is you enter in the symbol

Wednesday Weekly Grain Seasonal Review 7.6.22

Wed, 07/06/2022 - 09:30
Each Wednesday this article will be updated with the current seasonal study using CQG’s Seasonal analysis applied to the Soybean, Wheat and Corn markets. You can download the CQG pac providing the studies and charts here. In addition, the seasonal data lines can be pulled into Excel using RTD formulas. Below each chart are two tables. The first table is the highest correlation of the current market data to the seasonal year using a 20-day, 50-day, 100-day and the 200-day lookback periods. The second table is the previous week’s data. Seasonal analysis is about price direction or the trend.

Eight Sample Standardized Trading Systems

Tue, 07/05/2022 - 11:22
In July 2022 CQG Product Specialist Helmut Mueller updated his Super Template, which is a sample trading system ready to run that has a long and short entry, and many programmed different exits. Now, in addition he has created a set of eight trading systems based on very commonly used indicators. The exits are summarized at the end. 8 Pack: Standardized Trading Systems for Download

Eight Sample Standardized Trading Systems

Tue, 07/05/2022 - 11:21
In July 2022 CQG Product Specialist Helmut Mueller updated his Super Template, which is a sample trading system ready to run that has a long and short entry, and many programmed different exits. Now, in addition he has created a set of eight trading systems based on very commonly used indicators. The exits are summarized at the end. 8 Pack: Standardized Trading Systems for Download

8 Pack: Standardized Trading Systems for Download

Tue, 07/05/2022 - 10:40
After renewing the Super template in July 2022 I also created a set of trading systems based on very commonly used indicators. The exits are summarized at the end. 1. AMA trading system S22AMA The AMA trading system is technical identical to the 2022 super template itself. https://news.cqg.com/workspaces/2022/07/super-template-2022 The entry triggers when the AMA crosses above or below the simple moving average. The Adaptive Moving Average (AMA) study is similar to the exponential moving average (EMA), except the AMA uses a scalable constant instead of a fixed constant for smoothing the

Q2 2022 in Commodities

Mon, 07/04/2022 - 09:32
The raw material markets moved lower in Q2 but were still higher than the level at the end of 2021. The commodity asset class consisting of 29 primary commodities that trade on US and UK exchanges moved 6.27% lower in Q2 2022 but was still 8.74% higher through the first six months of this year. The asset class moved 26.79% in 2021. The bull market in raw materials stalled in Q2 2022, but markets experienced a high price variance level. The overall winner of the 29 for the second quarter was the illiquid Rotterdam coal futures market for the second consecutive quarter that posted a gain of 35.

Super Template 2022

Fri, 07/01/2022 - 09:50
It has been a while since I introduced the Super Template as a shortcut to build trading system inside CQG. In a nutshell, the Super Template is a trading system ready to run, that has a long and short entry, and many different exits that do not need to be “programmed” anymore. They just need to be turned on or off in the settings, and maybe preset with a useful value like a stop loss. Original article Walkthrough There are a few requests we see frequently, so I decided to add these into the 2022 version of the Super Template. Start and end trading based on local time Exit trading based on