After Friday and the NFP we can now say we are in the festive season. This will be dominated by periods of boredom and short sharp moves on little news. Friday went as expected, a good figure , short sell off followed by a decent rally. The fact is tapering is more or less built into the market. Yes there will be a reaction when it is finally announced but the process will be long drawn out. In reality we are back to a market dominated by low interest rates and that will support the equity markets for some time. We may even get the Santa Clause rally this side of year end.
Today is about the mood and tech levels. Go with the flow and look to fade around support and resistance.
Levels are :- Euro 1.3720 1.3660 S&P (DEC) 1812 1800 Wall St (DFB) 16080 1600 Tight but no real levels to go on.