American’s confidently not spending money; Stocks rebound

So what have we learned?

We Yanks didn’t spend any money in May but were gonna party like its January 2008 this month, the last time the index was this firm, according to the Michigan sentiment survey.

That’s good enough justification to cover shorts for me. Equities are back in the black and EUR/USD is in the mid 1.2120s. Stops remain in the 1.2150/60 zone if it gather space.