thoughts for the weekend...

Friday, though bearish, generally was not a strong risk averse move, due to the extended weekend.
Can the losses extend into next week or will they be reversed?

We are yet to see a meaningful correction in risk trends, notably the S&P500. Looking at the World Indices, it appears that the S&P500 is trying to correct its extremely over extended rally. If it is indeed correcting, then, I would expect this late reaction to have a similar delayed move into recovery as well. The other indices were first in & therefore it is only natural that they would be first out.

On the flip side, these aren't natural conditions, so expect the unexpected.
I will be looking at the majors and will post the technicals in due time. (watch out for the charts in the "my Charts" page above)

Seems like a complex zig-zag is in progress in the Aussie and Shanghai Composite. Euro seems to be going through some form of a zig-zag too. Am also watching Sterling Pound.

I am still Long Eur/Chf and it appears that the SNB was very comfortable going into the long weekend, leaving the floor so close to being dangerously breached. I can't help but to believe that the SNB would want to let the pair momentarily dip towards the mid 1.19 figure so as too flush out "free loaders". Triggering Stop Losses placed in the high 1.19 area would clear out part of the massive Long Positions that are in place now. But is that really necessary?

Alternatively, could the SNB be simply confidant that the floor will hold on its own? Are they even planning anything? Could Monday hold a pleasant surprise? Questions, that only time can answer.