Monday -- Risk On, For Now

S&P E-mini Futures:
Ripping higher. But only 1.2%...

News:
Markets are ripping on hopes that Britain will now vote to remain in the EU.

Current snapshot.

UK -- 4.4%
France -- 4.6%
Germany -- 4.4%
Italy -- 2.8%
Spain -- 5.2%

Obviously a bigger deal there.

All this on top of a green night in Asia.

Until the votes are counted, however, it's all just speculation.

It could be much worse. Like, if you're applying for a loan in China.

Phone Tracking, Nude Selfies See Chinese Bare All for Credit

Bloomberg reported on the latest debt phenomenon in China where "consumers willingly give data at levels unacceptable elsewhere" in return for lower interest rates on loans.

Some go a little further.

"University students desperate for cash have been sending nude photos of themselves as collateral to several online lending platforms, according to the official People’s Daily. Typically they get loans of 15,000 yuan ($2,280) -- more if they’re doctoral students or enrolled at a famous university, the report said, and at least one loan had a weekly interest rate of 30 percent. Delinquent borrowers face the threat of their naked selfies being sent to family if they don’t pay."

How's that for transparency.

Today is the Summer Solstice and Full Moon. Happy Longest Day Of The Year.

FX:
GBP obviously ripping. USD down. Commodity currencies loving it. JPY weaker.

Treasuries:
Yields gapping higher, prices gapping lower.

Energy:
WTI crude ripping higher. NG fresh rally highs.

Metals:
Gold down while silver, platinum, palladium, and copper rip higher.

S&P Outlook:
This latest move was forecast days ago by using the Elliott Wave Principle, so I'll be taking most of the XIV position off the table today, having already started in the pre market.

Now it's a matter of either getting confirmation that the count is correct with a sharp reversal at "C" (2185-2100 area) or a continued rally above 2120.55.

Trading levels, not polls.