Today should be a day for the technicians. There is a big mid-week game afoot. Have the markets bottomed or has the past 2 days been one huge rally to nowhere?

If you’re bullish you want to find a place to buy them with low risk. ( That’s the hard part), knowing it’s a good enough low when you see it. The first big clue would be a 126.16 print in the (SEP) 30 yr. Bond Futures. Watch for tone on the SPU/Bond spread.

It’s early, so be patient, there will be posturing before the Fed show this afternoon.

MODEL TRADING PORTFOLIO…CURRENT HOLDINGS

LONG TERM HORIZON….

Long GLD,SLV,JJG

SHORT/MEDIUM TERM HORIZON