Ripping higher after no flush on Friday.
News & Commentary:
Bloomberg is reporting that Germany wants Greece out of the euro. About time. I see this as euro bullish. The DAX is screaming higher -- as one would expect.
Poor Yanis Varoufakis. He got schooled by Paris Match over the weekend, and showed himself as incredibly naive by consenting to a lifestyle photo shoot by the shrewd French who knew exactly what they were doing.
And it worked. The Greeks are furious. As they should be.
The Fed begins a two-day meeting tomorrow. Much hand wringing over the word patient. If they take it out now, they can add it later. It's a "communication tool."
Don't base your trading plan on an institution's word.
I don't see the end of the dollar rally just yet, near term or long term.
The messy rollover antics seem to have spread to 2s and 5s. 10s still trying to rally. That's what I'm watching.
Crude's action requires me to dust off the multi-year Fibonacci target at 37.33.
Waiting for gold patiently. Lower. Below 1130.
With futures on a manic tear this morning after whistling past the graveyard on Friday it could be set up for an even bigger one.
Such an out-of-nowhere rally is the behavior of a "b" wave, however, as they are notoriously difficult to trade. So I will be monitoring the usual suspects such as Ticks, A/Ds, and volume for clues.
2067 area feels like a target, as does a possible run to the 2079.43 gap without exceeding 2083.49.
If the Fed meeting coincides with a flush, I still see it holding above 1980.90. Multiple targets exist.