Benchmarks : Weekly Update

• Risk On back. Greece default averted, temporarily some easing of insurance demand for Gold.
• USDX : Still holding within the weekly triangle but I think is a matter of time before we break down.
• US10YY : Large reversal candle, penetrated SHS NL. But I am not ready to be bearish on UST yet. Buy for hedge against Risk On book near to 3.30%.
• S&P500 : As suspected, came back strongly for maximum confusion. Now, do we turn down from 1340 (=right shoulder) or do we go on to form new highs. I expect the latter.
• Gold : As above, XAU/EUR unwinding. I think triangle consolidation at worst, so will still buy below.