Definitely "risk on" tonight as the world seems to have finally come to the conclusion that the printing press is the only real weapon available in the fight against financial meltdown. Whatever. Give it a few hours and I'm sure that "risk off" will be back in vogue.
For now, however, everything is flying. The euro is up 75 basis points. S&P futures are up 26. Crude is up $1.60. The grains are all up as is copper. Silver is up 70 cents and gold is up $22. Quantitative easing...and lots of it...is coming your way in 2012. Big time. For now, though, let's not get carried away. Could the metals have bottomed last week? Maybe. The charts below tell the tale. Let's see what the overnight brings. More in the U.S. a.m. TF