Wednesday -- Trump Time Cover, $10 Starbucks, Crosshairs

S&P E-mini Futures:
Flat.

News:
A Paul Montgomery Magazine Cover Indicator Alert for Trump. Socionomically, it's bad news. In other words, probably about as good as it's gonna get right now for social mood and the markets.

Starbucks has added some color to its recent news that CEO Howard Schultz will step down as CEO to focus on premiumization of an already premium experience.

Starbucks courts millennials with $10 coffee at new Reserve bars

Notice the timing. With markets at record valuations (Goldman just reiterated that stock prices remain in the 99th percentile historically), pitching $10 coffee to 20-somethings is a great example of simply extrapolating present mood, which happens to be one of extreme ebullience.

Good luck.

FX:
Another calm day in the wake of political upheaval and subsequent calm-inducing ECB infusions.

More ink on the dollar, though. We were discussing dollar shortages here back in 2010. Now it's front page news.

Move Over VIX, Pain Has a New King

Saw an interesting comment by a trader regarding it, "USD shortage could also be squeezed by repatriation holiday."

The pain, and Trump's gain, can continue for a while until those magazine covers kick in.

Treasuries:
Still no real liftoff yet, but trying . . .

Energy:
WTI crude fresh rally highs -- perhaps the pump set up for the dump to come. NG fresh overnight highs.

Metals:
Higher in unison.

S&P Outlook:
2214.10 in the crosshairs as expected as the high-volume high gets a retest.

Volume was even lighter yesterday than the meek performance from the day before, which was 50% lighter than the 11/30 high.

No trades here until either a successful new high, or definitive failure to make one.

Patience.