All is quiet

Quiet markets are markets that are up to something, just like the kids. Although it is Sunday night or Monday depending on where you live and there's not too much open, I suspect the European open may shake things up a bit in about 4 hours from now. So I'm going to turn in early, but before I do, just a quick snapshot of the futures and FX markets...

 Here's the S&P E-mini Futures (ES), in my last update I said it looked consolidative, it looks even more so now. 3C is moving down, I suspect this is probably just some intra-day/night jiggles, but we'll see if this becomes another one of those persistent negative divergences seen in the last 3 failed bounce attempts. Note ES is holding around 1400, but with so little volume I'm not reading much in to this right now.

 The Euro doesn't look much different since the open, probably why ES looks pretty flat right now.

 Not much going on with the $AUD either,

Here's where the crystal ball was right again, BOJ intervention, so far since the BOJ intervened, as usual, it had a shelf life of about 15 minutes and the Yen is rising, the Japanese really don't like that USD/JPY 80.00 level so we might see another round of intervention shortly from the BOJ, but as mentioned the first time when we not only predicted it last week, but also predicted it would have little to no effect as usual, I'm not holding out much hope for a successful BOJ intervention that means much. It appears the unwind of the carry trade is a stronger force right now than the BOJ.

Below is the US economic schedule for this week, the world eco schedule is posted on the site to the right under, "Useful Links". We have a couple of decent reports this week and just about 2 F_E_D speakers on average every day of the week, so I suspect that we will see the F_E_D give the market what it needs exactly when it needs it, or rather give Wall Street what they need as we have seen so many times in the recent past. In any case it will be fun just to watch and see if we are right on this one.

That's it for tonight, have a great week ahead and lets make some $$$