The Aussie,Aud/Cad,Euro have all reached their first set of downside tgt’s yesterday or last night.

Currency traders should be patient and wait for good re-tracement levels to try the short side again.

The market needs a little time to see if the bounce can go anywhere. So far the bounce is muted.

30 Yr. Bonds..The point & figure charts show price action under 119.20 ish is

needed for further weakness in the futures. Dr. Nenner has a 117.26 tgt for this leg

of the down. The tgt. in the TBT is 41.50.

We will buy in 70% of our short position in the 30 Yr. (sell the TBT) on a 118 print in the 30 Yr.

futures. Once again, the ETF pricing does not always correlate with the futures, so we will just sell

the TBT @ the market when the futures print 118.

Spu..Since the 1258 double bottom we spoke of posted on Monday, the index has seen little volatility

while individual names and sector rotation has been rampant. We expect more of the same.