Consolidating Friday's run.
News:
Welcome to authoritarianism's new phase: more censorship and a further reduction in civil liberties.
Asia was mixed while Europe is ripping, maybe because German Industrial Output rose less than forecast which dovetailed with Draghi's follow up comments saying ECB is open to additional stimulus.
Keurig Green Mountain Coffee is going private (at a 78% premium). More supply off the market -- at sky high prices.
A little late, but has Jack Ma seen his high water mark? Trends often appear unstoppable near their end.
FX:
Commodity currencies down hard on oil. USD higher, EUR lower.
Treasuries:
Grim volume signatures continue keeping pressure on price.
Energy:
WTI crude and NG likely headed for new lows.
Metals:
Gold, silver, and copper consolidating recent rallies.
S&P Outlook:
Elliott waves, like the ocean, are fluid. For now, looking at three scenarios. All resolve higher, the only difference being how & when we get there.
Note that a larger wave 4 correction is still on the table (yet not shown) that could test the 1800 level.
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