Monday -- When "Whatever It Takes" Meets "Nothing Will Deter Us"

S&P E-mini Futures:
Overnight reversal from red to green.

News:
This time it was BOJ's Kuroda who said the magic words "whatever it takes" regarding further stimulus, yet Asia closed mixed.

Markets may be too primed for the ECB's rate decision of Thursday, where Draghi has already used "whatever it takes" to such great effect that Bloomberg ran this:

ECB Left With No Choice But Action After Draghi's Priming

"Mario Draghi has no room to back down."

"Economists surveyed by Bloomberg unanimously predict the European Central Bank will boost stimulus again this week."

Things could get interesting. Europe is green in anticipation.

Meanwhile, in Paris, it's getting scary. Not because of "terrorism" -- scary because the Climate Summit headlines are so cryptic.

Whenever you hear governments say "nothing will deter us" get ready.

Bloomberg -- "Paris Climate Talks Could Be ‘Turning Point’ For Planet."

Agreed. Perhaps the first ever global tax could be instated. A tiny one, only to establish legal precedence, but likely the first of many. Goodbye national sovereignty.

Regardless of where you are in the climate change debate, here's an inconvenient truth that upends the whole argument: Greenland.

Look into it.

I long considered myself an environmentalist until I saw Al Gore's film. His own data suggested our coastlines should already be 20 feet under water.

When "whatever it takes" meets "nothing will deter us" only one thing is likely certain:

We the people will pay dearly.

FX:
Momentum on the US dollar index is slowing. While the index has now closed above 100, it has yet to crest 100.39 from March.

Treasuries:
Still pointed to toward yield inversion . . .

Energy:
WTI seems close to making a workable new low in the next month or so. Ditto NG.

Metals:
Ditto gold and copper, while silver may lift off first.

S&P Outlook:
Seeing a lot of very bullish wave counts on the webs.

Either the wave count is in the "third of a third" -- which should be a "wonder to behold" -- or it isn't.

It doesn't seem like a wonder to behold yet, so perhaps some more backing and filling.

Best to let it settle in after a holiday-shortened week, and perhaps wise for us to do the same before placing new bets.

Still long SSO and SPXL against TVIX and seeking to add on both sides.