A.M. Look 1/3/18

Welcome to the mid-week shuffle.

EIA inventories today will see the Oil and the names active @ 9:30 CDT.

Spu’s…a new high by 2 ticks. I do not think that’s the high, however you must be cognizant of new highs as they tend to trap new buyers.

ECB looks to be busy the second day of the year as all the European Bonds are in rally mode which gives a bid to our long end.

I’m looking for two separate flows today.
One going into London’s close and the second after the FOMC minutes this afternoon.

Rule #1; Do not chase Wednesday closing strength. It tends to trap new buyers.

You give little if anything up by waiting a day.

Currencies…paying attention in the Pounds & Euro for a mid-week low.