It’s a risk off world. The major indices are in a tug of war with the DJI & Nasd seeing a relative safety bid ( they’re maintaining above their respective 200 day mvg avg’s) and the SPU,Russell and Midcap all failing. The big macro Numbers in the Spu do not change.

Think SPU/BOND ( LONG S&P/SHORT 30 YR. Futures) spread when you trade today. We’ll keep an eye on the board for the Fear Factor today to decide whether or not we were too early with the TBT. Stocks have to find some positive footing for this trade to work.

Oil..93.45 is currently a double bottom on the monthly chart. Price action under this level tgt’s just below 90 for a start. That would raise the Fear Factor up very high. Traders are viewing the oil as a reflection of future growth. Low Stock prices=low oil prices.

Model Trading Portfolio…Current Holdings

Long

YCS

TBT