Early on last night the dow futures were up close to 200.. high tick at 12,280… we are currently 120 off those highs.
I’d be inclined to sell 12,200 here. If Friday’s low at 12,029 fails then we could see 11,800. That, honestly, would not surprise me.
I’d stay long gold above 1600.00
In the grains, we should have some volatile trade.
Bottom line, watch the Dow. Everyone who got long on the “good news” of no default, could end up w/ egg on their face at 4PM.
CER