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.