Let’s just take a minute to speak about last night’s price action.

The metals came close to retesting the weekly highs, while the stock indices tested the support levels we spoke about in yesterday’s A.M. Look. Euro had a big range with those participating, more than likely, having an unhappy experience.

This is another example of Time Frame Trading. If your ideas are not giving you any love, wait it out for the next.

I am a great skeptic when it comes to politicians doing anything remotely constructive other than continually lining their own pockets. Service for the greater good went out of style with the Founding Fathers. Having said that, today Day Traders should be giving the equity indices a go from the long side against last night’s lows. Meaning, if they drift lower you can try it with a couple of handle stop. Longer term investors should wait until later in the A.M., if not the close for directional confirmation.

USD/CAD…now has a triple top @ 94.45 which I anticipate will be given at some point today with any kind of a rally in the equity indices. Stick with the game plan as stated yesterday.

Model Trading Portfolio…Current Holdings

FXC… ETF…USD/CAD