The Comex PMs have been under pressure all day today...from Asia, through London and onto New York. This is mainly due to HFT algo selling with a higher POSX. However, there's a bunch of data pending for 10:00 am ET and maybe, just maybe, that can help to turn things around.
Let's start with that POSX. It has been rallying consistently for about the past 24 hours. Most of this is due to euro and yen weakness, which makes the Pig appear "strong". You know this. I know this. But the algos "see" the rising POSX and reflexively dump CDG and CDS with almost every up tick....
