We think the indices will continue to show strength with the ES and YM soon trading to new highs. The relative weakness in the TF and ENQ may change to relative strength, so be careful with the too obvious assumption that the divergences between the ES/YM and the ENQ/TF will have a bearish resolution.
If the YM or ES take out Tuesday’s low it re-opens the door to a bearish resolution.
Bonds and notes are weak and may still be good sells if the indices are going to continue to ramp higher.
Copper has held that spike and now seems to be showing a little life. The recent spike high is the immediate area to watch. Copper may be a good long trade if they don’t spike it up too much prior to the day session open. It should hold 37000 under any bullish assumption.
Gold is chopping and grinding higher, but so far not showing a lot of conviction.
Canadian $ is trying to bounce from near 10100.
For now, its pretty much “risk-on” across the board.