Not much going on today. We had the moves to some levels but for the most part things just didn’t set up right. I kept saying all morning the OH was going to fail and it did, but we never got to a key level after it did. We stopped basically in the center of last Thursday’s high volume cluster without getting to 40. We had a few scalp ops at the OH twice for a tick each and then again twice on the retracement to the 41 level we had. The only other setup was for the Biglots strategy short. It set up great but at that time I was watching the bid subsdide in the 10s and the Euro flatline and the VIX continuing to come off so it had to be managed dynamically. If you read it correctly you would have seen it stalling and just like yesterday it was only worth 3 ticks. I have meetings today so I’m probably done looking. I still think 50/51 and 35/36 are great ops and at least one of them will be tested . The market is very non-directional again today. Volume is mixed but leaning to the short side – but too light to make much of that fact or factor into your trading. The carry trade has started to come off again and the bid returns to the 10s as I write this and if it continues you can expect at test of 35/36 shortly. If you see that same strength in those markets though you may not want to fade it as there is a big low volume tail right under it. If it pokes through too far you could get run over as it shoots right down to the OL. Good luck and be careful…