First thing is the European debt having retraced lower and fulfilling technical work in the Italian 10″s. Bunds have a little more to go.
This is occurring while the long end of our curve is in rally mode.
30 Yr. Futures can rally another 1-1/2 point and do nothing on the 100X3. This would just be a retest higher.
This will effect the metals and FX.
Euro is a long against 109.94, it’s 200 qtr M.A.
Suisse/Yen is preparing for lift off with a potential 20 figure move.
Don’t recommend being short Gold!
Earnings start tomorrow with Industrial names and Real Estate.
Dow Jones is the strong Index.
There was a lot of bottom fishing in First Republic Bank. I will review it in the A.M., as this has big technical potential going into next week.