S&P E-mini Futures:
Bouncing after Friday's rout.
Reuters reported that BOJ may redouble its stimulus efforts. Because the first one worked so well. And because the Fed passed?
In Greece, Tsipras was re-elected with almost as much support as he had the first time, something that I find a bit surreal.
Would have thought JPY would be much weaker in the BOJ news, but it's not.
These continue to trade messy with no clear direction.
WTI crude trying to rally while NG trying to break down from its year-long consolidation.
Gold and silver adrift. Copper gains.
Hearing and seeing a lot of prognostications that Friday's rout was the kick off to new lows. It may have been. But the waves down from the 2020.86 high were less than stellar.
By that I mean that it was a less than impressive impulse wave down. For me, it leaves open the possibility of another sub-wave or two higher.
Intraday TRIN reached capitulative levels on Friday, above 3.50 for a bit, closing at 3.04.
A break of 1937.19 could be the first warning, while 1903.07 remains the more important level. Unless these levels fail, the 2050 area may continue to act as a magnet.