The collision of global markets and social mood

Friday, November 20, 2015

Friday -- Options Expiration

S&P E-mini Futures:
Holding overnight gains into op ex.

How the hell do "US forces" just happen to be in Mali?

Draghi is at it again. "We will act by using all the instruments available within our mandate."

Too bad none of them will work against deflation.

AUD having another good day, yet is still in a multi-month range. EUR understandably weaker. USD firm.

2s and 5s looking horrible compared to 10s and 30s. Inversion.

WTI crude down, NG down-er.

Gold slightly higher, silver slightly lower, copper catching a bid after fresh lows.

S&P Outlook:
Any new high this morning should be looked at as suspect. Yet shorting might be difficult unless internals line up.

Below 2083 could be the first warning that at least a probe of 2065-2070 is possible.

Today could also tip the odds to one side -- B-wave or developing impulse higher in wave 3.

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