Simple's Green Room

[pennies2007]

Nah, the current wave count shows it's just about done, at least near term. The market filled a gap on the S&P chart so anywhere in this area can be near term resistance for the market as a whole.

One thing that's shifted back to normal is the US dollar compared to equities. For a long time now, the dollar rose with the stock market but that's not normal. The normal situation is an inversion, where the US dollar rises with stock market sell offs and falls with stock market rallies.

The relationship has finally been restored so in the near term, the risk pairs like EU, AU, and GU are due for pullbacks. So the market, by virtue of that, is testing significant resistance levels and is also due for a pullback.