The Euro looks overbought, which is bearish for the risk trade...
The Spyder is Overbought....
...the Hot Money sits on the sidelines...
...because they sit on good unrealized profits and have begun to take some money off the table...
...which all jives with Gold topping out....
We don't know what will happen in Europe but the data shows some caution for the next week. View this against the backdrop of the disappearing liquidity and you will get more wild rides.
Maybe we can get a SANTA CLAUSE rally later in december after we have seem some kind of correction.
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