S&P to push higher and test the key 1230-1235 resistance level. The result of the test of the critical S&P level will in my opinion will be VERY telling for the future direction of risk. Also, two very important markets have shown the possibility of an ending diagonal in the 5th wave positions on the daily charts. The US 10 yr bond yield looks to be in wave 5 of the 5th wave ending diagonal pointing towards test and abrupt failure of 4.00-4.10%. Similarly, EURUSD looks to be in wave 4 up within the 5th wave ending diagonal, with a final test in 5-of-5 down to 1.3000 to complete the entire pattern. The successful completion of these patterns will have significant implications for the intermarket relationships of the 4 major asset classes
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We live in a finite world with infinite possibilities.
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FUBAR...
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I have no enemy; I make Incautiousness my Enemy.
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Prices oscillate, trends persist. Trend is your friend.
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FUBAR...
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