Yesterday we had a lengthy conversation about the Wednesday night extreme going into London’s opening in the Spoo’s and Bonds.
Is that the low for this turn or do we se a lower low in both?
For me I like to se what levels of any major significance is in front of the next matrix level that can catch the market wrong footed.
Markets have destiny with some numbers. 108-109 areas in the 30 Yr. Futures!
A violation of this level will open the door to parity in the Futures, a move I expect would be as fast as the move below 117.18 to Wednesday nights low.
Having said all that the Mexican Peso says more risk off and the Oil market is telling us that everybody is cutting back on expenditures.
Instruments are directionally challenged!
Don’t chase anything here.
Today will be a decision day for traders and investors alike.
I’m not looking for confirmation in anything until 7:30 A.M. CDT tomorrow.