Welcome to a new week and Happy Monday!

“What happened to the big “Risk Appetite is back!” cheers from the Media world?….

We thought the Majors were back and the Dollar is fading away???”… I can hear the CVJ Fan Club guys say …with clear sarcasm, of course.

Surely our Non-Farm Payroll Data would compliment their sarcastic views..as we still have Dollar and Yen strength which is “counter-intuitive”.

We now hear of true and “actual” Unemployment NOT being at 7.2% or so…but 13.5%! …when we factor in those looking for work who have simply given up, and also the increases in non-measurable part-time employees.

Will the CVJ Guys be proven wrong?…maybe…but for the time being…Risk Aversion may be back in place in the near-term.

So let’s have a visit with the Queen again…and check on Cable.

When we left Her on Friday…we were drilling down to a 5-Minute time cycle and noticed a Double Top formation that may come to fruition.

We left our little “Channel of Congestion” around the 50% Daily Fib of the last major Down-Leg as a near-term “magnet”…and we surely have re-entered this Basing area.

 (Post-Time is 3:20 GMT)

(click once for capture)

Here is the larger Daily view…to see the Fibonacci confluence points and a Macro- “Triple Bottom” behaving Formation.

Curious about the title of today’s Post?

It is a “play on words” and a little “inside ribbing” for my Premium colleague and friend, Ray!

We spent plenty of time last year discussing how all of his countrymen were coming over to the States on a round-trip one day shopping spree for Christmas…buying half of Florida…and then running me off the road out here in Phoenix by their “backwards” driving!

Well..this year it may be my turn!

I suppose it is my time to come over…buy a nice Flat…and drive “on the wrong side” of their roads!

Seriously…all humor aside…where the U.K. economy goes and the ways they choose to heal their wounds will essentially be no different from us here in the States.

No Man is an Island…and No Economy is Either.

 :-)

(As I mentioned last week…I will try to do Intraday Updates and along with this will come shorter-term views. Most of you know my personal views tend to be longer-term…so I thought it would be beneficial to give some thoughts to all of you who trade Intraday time cycles.)