The risk spreads in the U.S. have not capitulated the way the European spreads have.
With the聽FTSE & DAX trading below / @ their respective weekly ORL #’s, its time to get defensive.
Spu weekly ORL # is 2562.25
DJI weekly ORL # is 23,3278
It’s clear that the current sell off started off shore and that weakness is being reflected in the U.S. Index Futures.
Nasd 100 is still trading slightly higher on the week. It would take a 100 point break for a reversal week. i don’t see that happening.
The Spu & DJI could.
We’re a long ways from trend so I’m going to a defensive stance.
The next 6 weeks will involve more drinking than trading, making it a time to do the tighten up.