Another STOPPED day going into Friday in both models. So far the M6 risk pivot risk filter has done a great job of keeping us from drawdown days. This has held true even though opening market dynamics appear to contradict the M6 odds and then fall into sync with the signal by the time the close rolls around.
Despite the House passage today of OBC repeal the effect on the markets may be negligible.
The French election on Sunday will be the catalyst for next week's action and we're still expecting risk off selling into Friday,s close.