Just a quick post today as I'm very busy with offline stuff. ES made a marginal new high yesterday with negative divergence on RSI, and it seems likely that a short term top is in. Due to the channel and pattern desert that we have seen in this latest wave up it isn't easy to put a retracement target on this but I'm leaning towards the 1215 ES (Mar) area for a number of reasons. The technical rising wedge target is in the 1212 area and to get there some strong support in the 1230 area must be broken:
On EURUSD we are seeing a correction and the first target is in the 1.324 area. If that breaks then I'm seeing channel support in the 1.307 area:
I posted a broadening descending wedge on TLT a few days ago and it has been making good progress towards my downside target, which still looks ambitious though. We'll see if it can reach 87 – 88:
I've been enjoying some of the text to video xtranormal videos posted in recent days. I've made a contribution myself explaining the thinking behind current US economic policies. You can see it here on YouTube.
