Textbook Bounce Off 20 Day Moving Average

It appears the excitement today is about a few merger deals as the economic docket is light. I always like to stand aside in the 2-4 days ahead of a quarter end, since the Street is notorious for attempting to mark up its merchandise to make their performance metrics look better. This week is going to be especially interesting since the massive amount of economic data Thursday which also just so happens to be the first day of the new quarter - and Friday's labor report.

As I said in the weekly summary

So in summary nothing has really happened (YET) other than some extreme overbought conditions have been a tad relieved. A big dollar rally from here, and the entire game changes. Otherwise... business as usual.

All systems go... dollar down a bit today, any risk asset can be bought. Same old...