• It was another consolidation day yesterday…right at the top of the trading range and below 1230.
  • news out of Europe remains very inconsistent, not helping uncertainty
  • BLK above $160, ZUMZ above $22.50 are nice Bucket 2 long ideas
  • its options expiration week, this usually leads to more volatility into Friday
  • as a reminder for the bigger picture look at the weekly chart of copper below…in August it broke a multi-year uptrend and now sits right at its 200 week moving average for support. 
  • also keep the eur/usd fx cross in mind.  it is finding resistance at the 1.38 – 1.40 level, which also coincides with the 50% and 61.8% Fibonacci retracement level.  if and when the eur/usd should start turning lower again stocks should follow suit.
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