When will the next tradable move come?

  • much of the next move in equities and risk assets in general depends on the outcome on thursday with the ECB rate decision and the announcement on Friday by Merkel and Sarkozy
  • until then this tape will likely chop around and give false signals all over the place…stay out of it please
  • a chart worth noting is the one of the Shanghai Composite…note the narrowing trading wedge…at some point if and when it breaks lower it will not bode well for global risk assets.

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