That Trick Never Works

rockyAs in the old Rocky & Bullwinkle cartoons, the ECB might have pulled a rabbit out of their hats, or it might be something else entirely.  The headlines will be very positive, and investors will no doubt breathe a sigh of relief.  But, anyone with their eyes wide open will recognize the “solution” as nothing more than can kicking.

The futures have been predictably ramped to a very positive opening, with ES nearly back to the SMA50/.618 Fib combo at 2090.

2015-07-13 ES daily 0606As for SPX, our upside targets from Friday are unchanged.

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