We'll See

Busy morning.  Woke up, saw the futures had done a straight line spike up, and bought some SPXU as soon as I could.  I didn't become more enthused about the market action yesterday, so it's got me thinking about lower lows to come.  In fact, there is a 261.8% Fibonacci extension target at 1343 that has my eye.  So today is one of those "we'll see" days.

What if this futures rally has some legs?  Where could the cash S&P go?  Maybe 1361-1363, the area of last Thursday's low, would be a good spot for price discovery.  It's also the 61.8% retracement area.

Meanwhile I'm nearly back to even on the SPXU.  We'll see.

Found this silliness this morning.  What's wrong with this picture?  A lot.

It would make a great publicity shot for a game show.  They look like a light-hearted romantic comedy duo.  Long lost Best Friends Forever.  Newlyweds.  Dinner party partners.  Very close neighbors.

These are the people in charge of getting Europe back on its feet.  It looks like a fun job.  Happy and chummy. All good.

Meanwhile their countries burn, fueled by mountains of fiscal and monetary paper made up of pensions, savings, and the future earnings of citizens lucky enough to have a job.

We'll see how long their fun lasts.