Monday’s trading brought further consolidation in the DAX – forming a three bar triangle. The SPs stayed in a narrow range as well. 2805.75 is the most visible downside pivot. 2842 was Friday’s high. Grains continue to be the relative strength leaders to the upside, trading higher off Friday’s closes. The $ index is on a buy – good odds of a close back above the daily 5 SMA. The EC already tested back below the 5 SMA. SI is on a pinball sell – this already played out in the overnight session.