I am sure the mid-week shuffle twisted a lot of heads yesterday. The 30 yr Bond short was the cheapest way to be long the stocks.  Long Spu/Short bonds anyone? The stock trade still has massive sector rotation, meaning it all comes down to picking the hot stock of the day, making the index trade a nightmare.

The currency crosses continue their march to complete multi year swing counts. All you can do is look for areas from your local short term Gnome to leg the spreads. This a.m. Dr. Nenner is putting out some tgt’s in USD/CAD and the Pounds which should now have your full attention. These trades are best legged against the YEN.

Long Cad/Short Yen (CAD/JPY…GBP/JPY)

Gold & Silver…I refer you to my unemployment comments..The metals held and typically this should provide the floor for these instruments the rest of the month.