Midday Missive

2132 has held in the Spu’s.DAX…is creeping up. While this is happening do not think of selling U.S. indices.
XLV...will be in play later in the day as it is setting up for a breakout of its range.
be patient with this until you see the direction confirmed.
Oil.. filled its Pit gap to the tick. Only sustained price action and a close below 50.53 will lead to more weakness.
Euro...made a new low with a potential ORL pattern. Again the condition of the market is oversold making the pattern and pattern follow through a low probability.

Equity/Bond spreads are into momentum support.

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