Benchmarks : Weekly Update

• Another week, another new headache in terms of possible failed signals. USD/CAD + EUR/GBP now performing but US10YY + S&P look tricky.
• USDX : May find some support above 0.82, although overall this looks like a sell on rally.
• US10YY : Lack of follow through below 2.88% is disappointing. Still, will give this leeway to perform given the negative look of the big formation.
• S&P500 : Suffering on short position (at 1071) but kept small as had anticipated this struggle from the onset. No pyramiding until we get a clear downside break. How long can this diverge from weak economic fundamentals?
• Gold : The most frustrating trade of all. Collapse not seen though so long maintained. 
• EU stress tests : almost meaningless given low bar set.