The collision of global markets and social mood

Friday, June 12, 2015

Friday -- Simple Math, Signs Of Life, Sips On Dips & Goat Stew

ES Futures:
Gap down last night. Prices worse with every Greek headline.

The reality of very simple math hits hard. Barring rabbits pulled from hats, Greece has hours left.

Beware the rabbits, though. News can hit both sides of the tape.

Back to EUR weakness USD strength.

Signs of life. Prices rose with expanding volume, notably in 10s & 30s.

WTI crude and NG still correcting & digesting.

Have gone back to a weekly chart for gold. Will be much more enthused about its long term prospects after a break below 1130. A larger set up won't occur until after such time, in my opinion.

S&P Outlook:
The S&P may have completed five waves up at yesterday's 2115.02 highs. A pullback to the 2100 area is expected, though a deeper one should not alarm as long as it's not impulsive.

While the S&P is still technically suspect until 2121.92 gets exceeded, small sips on dips are on my game plan.

That, and another trip to the Dominican Republic for lunch.

My neighbors say Dominicans are the best cooks. They're also amazed that I keep finding cool spots to eat that they haven't tried, haha.

This one is a father & son place on white hot Calle Loiza in the gritty Santurce section of San Juan called Georgie's BBQ. Everyone's new favorite.

Fricase de Cabrito (goat stew) . . .
. . . and then some BBQ chicken with rice & beans

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