Day Traders…

I am personally in no mood to bottom pick, however I would pay attention to the 1150 level in the Spu and 139.18 in the 30 Yr bonds to see if any contra trend trades are generated off those levels in either instrument the first time in.

Testing the metal of the FED will be the big game in town going into the end of next week’s Jackson Hole Summit. Can the FED ( Uncle Ben) pull another Rabbit out of his Hat to put a floor in the Equities again?

In the meantime be patient and wait for opportunity. There will be plenty.