Holding above yesterday's low. Key.
News:
JGB yields higher again.
FX:
USD may be getting ready for a slight pullback. Moves in Scandie currencies looking close to pullbacks as well. Euro ticks away from fresh lows.
Was looking for a bounce in the Aussie, but not like the weak one that has transpired thus far. Will stand aside anticipating further lows.
Treasuries:
Dec. 24th lows in 5s and 10s holding and with any luck, these will rally to new highs which could finally mark the end of the line.
Energy:
NG looks better than Crude, but is rallying on very light volume. Both are still in low odds areas for me.
Metals:
Gold basically in the same place as yesterday.
S&P Outlook:
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| This scenario argues for a wedge to about the 2300 area then an extremely sharp pullback. |
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| This scenario argues for a little pain now for more gain later, up to 2300 or possibly even 2500. |
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