The board has a decidedly “Risk On” bent this A.M. Let’s see if this can continue for a couple of days.

EUR/CHF & USD/CHF are key features of last night’s movement. Suisse has just retested Friday’s low of 122.64 Futures ( 81.58 USD/CHF)

The Euro is unchanged on the Qtr “145.03” ( it’s nowhere!)

EUR/CHF has probed the reversal resistance #’s in the cross. This is will be a key tell for the Risk On trade today through Thursday. This cross has to close Wed. above the 118 level and follow through late week for the Swiss to have succeeded. ( weakening the Swiss Franc)

This will make “Euro Bears” life very difficult. It will be the wrong way on the cross.

In short the big game is later in the week. We’re waiting to see confirmed direction after we close out this month.

Model Trading Portfolio…Current Holdings

Long… GDXJ