Price Action

All quiet on the trading front. The price range was $222 to $227 on a light volume day. The market is in another holding pattern awaiting a sudden move higher or lower. $230 looks to be a formidable level to punch through. Expect the market to drift lower and retest $218.

 

Trade Idea

Accumulate short positions in XBUK15 in the high $220s looking with a downside target price of $218.

 

In the News

The Bankster War on Cash; JPMorganChase Begins to Prohibit the Storage of Cash in Its Safety Deposit Boxes (EPJ)

Tsipras to Seize Public-Sector Funds to Keep Greece Afloat (Bloomberg)

US Police Officer Charged with Receiving Stolen Bitcoin Miners (CoinDesk)