Just a quick thought here…
We had a good long-side trade this morning in the chat-room and are back in all cash. Remember tomorrow the Eurocrat meeting starts and headline risk will be HUGE for two days. That doesnt’t mean we can’t have a non-event when its all set and done, but it does set us up for massive intraday and overnight spikes and valleys.
The most bearish thing on my charts today is the dollar index chart. On a 60 minute basis it looks to be set to break out higher …see the chart below.
Please stay in cash.