Italian Bond…96.86 is a key level. It’s attempting an outside reversal day to the downside, which would put this instrument into serious re-trace mode.

This has big ramifications for Long the Italian/ Short Bunds.. The spread is flipping.

Intervention has played a part in the Italian 12 point rally, since I wrote about it being oversold a few weeks ago.

Below 96.86, it will keep pressure on the Euro.

“Spinning Wheel” is playing in the background…

All session Spu’s…1245.25 is the reversal closing #. Below, expect more risk off.