Slight bounce from overnight.
Mixed in Asia and Europe.
Adventures in Keynesian journalism continued.
Below, another example of extrapolating the tech-centric present. If anything, we're probably ready to see a comeback of low-tech devices, "fasting" from technology, and a return to humanism. (Already seeing a resurgence in sextants among mariners as GPS redundancy.)
|Source: Daily Mail UK|
Other mood cues to watch (along with the continued momentum of Le Pen in France) could be the tone from the G-20 finance ministers meeting today and tomorrow, and any clues from the Scottish National Party conference about a possible second referendum there (expected to be very pro-EU).
Of the current backdrop, one money manager commented, “Volatility is scarily low and there’s just a lot of complacency out there” which kind of summed up things well.
Interesting to see the Ring Of Fire chiming in yet again over the past 24 hours.
No sooner had the globalists breathed a huge sigh of relief with the "defeat" of populism in the Dutch elections, then French far-right candidate Marine Le Pen actually gained momentum in the presidential polls, denting the euro.
Not much damage overall, though.
Pretty quiet thus far. MXN the biggest mover, rallying, and CHF & JPY stronger yet again.
Bitcoin back under 1200, down 2%.
Half-hearted rally thus far.
WTI crude and NG moving higher.
Green again in unison.
Not impressed with the rally thus far, so continuing to look into alternate scenarios.
The ABC potential is growing on me. The bummer is that the current stop (to prove the impulse wrong) is way down at 2358.18.
But that's okay. Especially if it can be gamed from current levels. With puts.
Kinda messy, yes. But either the market rallies or it breaks down. Gaming a breakdown via puts with a tight stop at 2390.01 is a good risk/reward for me against my remaining SSO position.
Notable that the Dow yesterday missed its gap above by just 5.6 points. Seemed pretty weak.