News:
Yellen 10am EDT.
Syriza submits reforms. Vows to crack down on the very citizens it promised to protect from the man. Eurogroup (the man) loves it.
ES Futures:
Flat waiting for Yellen.
S&P Outlook:
Continues its weak march higher, although if it fulfills the expected rising wedge, patience will be rewarded. Two near-term Fib targets above are 2114.42 and 2133.38.
FX:
Quiet. USD firm.
Bonds:
Heavy volume overnight in 5s and 10s as prices are again pressured.
Energy:
Crude holds below its rising wedge trend line, NG pulls back. Neither present compelling odds at this moment. This could change quickly, however.
Metals:
Gold continues to flirt with sub-1200 levels.
USD, treasuries, and gold hinting, regardless of what Yellen says, that higher rates are on the horizon.
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