More Noise On The Eastern Front

It’s hard to keep up these days with the laundry list of potential market disruptors we are facing on a monthly basis. As I’m typing this Draghi is still dishing out empty rhetoric to anyone still cares following along after eight years of experimental monetary policies. Not surprisingly the Euro is in whipsaw mode as participants are feverishly weighing every single words for hidden coded messages or signs that free money train may one day come to an end. In the end it’s nothing but noise which will soon be forgotten as soon as necessity or convenience once more trumps public interest. Which incidentally seems to happen a lot nowadays, doesn’t it?

The spoos are starting to produce an extremely exciting pattern here. If you’re not positioned yet then I’ve got three scenarios for you:

• Soylent Yellow: Long here with a stop near ES 2130.
• Soylent Green: Long above ES 2146 with a stop below 2139.
• Soylent Red: Short below ES 2130.

If you recall I am still short with a stop near 2150 but would most likely reverse to a long if stopped out and if the Zero shows sufficient participation.

Gold as well as silver are still looking like a solid entry. We haven’t seen a lot of movement here since yesterday and yes, it’s possible that we’re going to get a shake out drop lower. Which would be a second entry opportunity if it remains above the 100-hour SMA.

The Ozzie Dollar dropped like a rock since yesterday but has slowed down near its 100-hour SMA. This is a brilliant long setup until about 0.762.

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