A funny thing happened this morning over at the ECB this morning. Mario Draghi must have finally found a moment to actually look at a EUR/USD chart as the ECB suddenly seems concerned about the implications of a 11% hike over the course of the past six months. Which to me stands in rather stark contrast with several constitutional trains wreck that are currently unfolding all across in Europe and most pressingly the one right now here in Spain. Not exactly bullish when Moody’s and other rating agencies are issuing recurring warnings about Spanish and Catalonian credit ratings.

The third quarter is officially on the books and that means we are now finally entering the most profitable trading period of the year, at least statistically speaking. As with everything in life your mileage may vary. Since it’s the beginning of a new month this we should once again take step back and look at the characteristics of the ongoing market phase in terms of volatility, momentum, as well as market breadth.

I am still trying recover from what gradually turned into the weekend from hell. Over here in Europe independentistas in Catalonia facing off against by Spanish police forces, attempting to stop what it considers an illegal election, turned into a major skirmish which left hundreds injured and an entire nation in political turmoil. Meanwhile in France an Islamic terrorist stabbed and killed two women with a knife at a train station in Marseille before being tackled by another woman (respect!) and eventually shot and killed by security forces. Not to miss out on all the havoc an ISIS supporter in Edmonton, Canada ran over a police officer with a truck and then jumped out of the [...]