The fear trade continues…Short Euro/Long Metals..

1298-1302 S&P 500 futures is still a key technical level.

This continues to be a market for short time frame traders, while stocks like AAPL have become the recipient of a seeming flight to quality in the individual names.

USD/CAD is a prime example of waiting out the time frames for directional confirmation. Canada was sold along with the rest of the majors when Asia came in last night. The markets in general have become a time frame technical trade. A close over 96.33 USD/CAD will likely lead to more Dollar buying. Any ETF positions should be sold on a cash close over 96.33 USD/CAD.

Do not fight direction unless you have clear parameters or risk levels in anything.

Model Trading Portfolio…Current Holdings

FXC… ETF

We have no cash or futures position in Canada or USD/CAD