No great insights this A.M.

It’s going to be a trade what you see kind of day however,

I would point out that the Spu/Bond spread on the longer time frames

is getting over baked….the Stocks have remained firm and the rates have had

a very big back up in yield over a very short time period.

Price action wise, the Spu has reached the 1237-9 upside # set we were looking for.

The plungers will now use this area to sell against to see if they can force out

any weak longs. A close in the SPZ today under 1219.30 would be needed for them to succeed.

Euro…price action under 131.80-90 shows more weakness.