Under pressure overnight, yet showing firmness.
News:
Angela Merkel as Time's Person Of The Year is perhaps a high-water mark for the "European Project." Hopefully.
The Chancellor of the Free World title, especially in the wake of the police state that has followed the Paris event, could be viewed as an omen. Especially when this sort of thing seems to be the plan world wide.
Any kind of anonymity, especially when linked to money, will be likely hunted down by governments and terminated. That seems to be the intention anyway. Hopefully incorrect.
FX:
CHF and JPY still stronger. CHF in particular should be watched closely as a tell for equity trouble brewing in Europe as Merkel triggers a possible Montgomery Magazine Cover Alert.
Treasuries:
Not seeing anything to change the tune of late, which continues not to carry a good message..
Energy:
WTI crude staged a rally where it needed to. So far so good. NG still looking for new lows.
Metals:
Gold, silver, and copper all looking good today and staging rallies. Would feel better about gold in particular if gold mining stocks looked better.
S&P Outlook:
Still in the middle, yet yesterday's rally (after the weak open on excessive ticks looked like a massive puke) may be a tip of the hand.
If so, 2042.35 becomes a key level to hold. If not, a possible test of the 2000 level could be in store.
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