The low in the S&P is a really good low for now and sustained price action is now needed below this level for further S&P weakness. We’re leaving the stops as is.

Euro…we were looking to sell this currency against the Long metals and Ag positions. The entry zone we were looking for occurred last night so we did nothing. There is plenty of action during our day session. We do not know which is a more important level, yesterday’s low of 141.40 ish or last nights high of 143.40.

Per Yesterday afternoon…

That’s 2 days in a row that the computers are creating a huge flow contra the early show just as London closes ( the absolute lowest volume time of the day). We will be using a day session 1353 buy stop in the S&P futures and a 123.14 sell stop on the long bond side of the spread.

Pay attention to your time frames!