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Chop-fest Machete` at Dow 12k and SPX 1300

Silver is moving vertical off today’s low of 34.05 and the DXY’s flight to quality was stopped cold at 77.38. Oil is down about $2 but remains firmly above $101. Ten year Treasury Bond yields were lower but have reversed higher.

Most every market is a chop-fest waiting to bludgon most directional trades. Lucky for traders, the range is very narrow.

Rumors are that QEIII is a lock, but that may just be wishful thinking. At the moment a front row seat is an attractive place to be.

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