1:08 pm. XLF almost reached my target of 23.25. FXE is almost at the target, UUP almost there as well. Everything is just almost there. I think tomorrow will be key. I started scaling into positions, very small, though.

10:57 am PST. The FXE needs to just pop a little above 105.04 for a double top and that is going to be a big short on the Euro down to new lows. Once XLF tags 23.25, everything might just reverse. Dow up, treasuries down, dollar up, gold and the Euro down, VXX down. Or it could do it here, either here, or we are close.

8:45 am PST. Dow bouncing exactly off 20,700. Let’s see how it does. If XLF has further downside, 20,500 in the cards.

8:40 am PST. XLF really selling off. I am looking at 23.25 target for XLF.

7:58 am PST. VALE selling off today. Could go to $9 instead. Not trading it, just watching it.

7:54 am PST. The Dow is still headed towards 20,700, possibly 20,500, but I would have to see how it does at 20,700 first.

7:23 am PST. Closed out my JNUG trade for about +.70 from yesterday.

6:59 am PST. Silver is up as anticipated. I am watching gold now. I think it might stall at the 1239 area. It has to close above to signal further upside.

XLF is also down and the dollar is down, as anticipated. I am looking for 25.40 on UUP before a bounce. EEM is modestly higher is probably going to consolidate now for a couple of days.

1:03 pm pst. Silver still looks bullish. XLF sold off into the close and I am a bear. JPM closed below the prints. UUP looks like it wants to make another low. TLT rallied today. UNG looks bullish, as does XOP.

11:39 am PST. XLF still on route to $24. JPM had a 517,000 share block trade at 90.52 and we are below. Need to watch the close. Dow still looking towards 20,500, but possibly 20,700 first, depending on the close.

10:59 am PST. VALE is eventually go to $12+, probably by next month or so.