Now for this week’s episode of the mid-week shuffle.

We just had one monster break to unchanged on the year in the S&P. The average big move in the SPU is 80-100 points. We just got the FULL MONTY!

Today, it is not advisable to sell any type of weakness in this Index. This will be a highly technical day of trading. Do not get sucked into selling new lows today. “Just the opposite” Look for reversals off any new low for follow through failure ( trapped shorts). If you’re short do not press weakness and tighten up your trailing stops as the market moves. We should see bottom fishing coming into the markets today if they’re to put on any type of a rally.

Bunds…. a close under 131.18 is needed to think you’ve seen the end of that move.

Silver…a close over 41.25 would be bullish, however we will not buy that break out today. It’s the wrong day of the week for me.

Let things digest after the moves in the currencies last night. The world has turned into a giant Lemming Effect Time Frame Trade. Day traders should have a ” you first attitude” about any trading today. Let the market show you, and pay attention to the bigger time frames.

Model trading Portfolio…Current Holdings

Long

YCS