Support has held at the 2050 region on the Spoos, and that’s the level to watch. At the same time, I’m looking across the bond curve, and though giving us a half-hearted rally through London … on longer time-frames it seems like she is turning over to higher yields. I have no clear edge at the moment in bonds, but I am watching that 163’20 area in the June 30-Year as resistance.
It’s wait and see with those levels.
But until such time we see a break one way or another, I remain bearish on equities.
When the current mark isn’t giving you a clear edge, you go with your quondam outlook on the markets.
So for now, I remain an equities bear …