We’re not getting a lot of love from this trade, meaning that we aren’t seeing the desired price rejection off the levels in the Spu and Nasd.

Bonds hit perfect resistance and are now retesting support.

Spu’s Point & Figure shows sustained action over 1391-92 is needed for more upside.

Copper is also at the weekly 377 level it broke from.

What bothers me is that when we’ve seen sustained metals strength, which has previously been reflective of a Risk On Board.

We’ll wait this out for a while, however late day strength over the low 90’s in the Spu’s will have us close out our shorts and look for opportunity down the road.