When the soft data came out, I was carefully watching US 10-year yields for a break of last week’s lows but it didn’t come.
Now, I’m watching for a break of the recent highs in the S&P 500 at 1390/92 but it doesn’t look like its in the cards.
Cable is struggling ahead of 1.6077, the day is winding down in Europe and the calendar is comatose.
Tough for me to envision anything outside of the ranges we’ve seen so far.
