I would have to seriously entertain the prospect that Euro has turned if it takes out the 138.60 low Dec futures. The dollar index still needs to break 78 to confirm. This would be confirmation that stocks have turned as well. This is the first day down in the I1 cycle, so I expect a gradual process of stock-correlated markets to show indications of breakdown at different times. Consider a Euro break as early warning and the future dollar signal as the bell-ringer.
In the stock market SP futures 30-minute M/A will be broken at 1153.50 but I'll wait on a rally after the break. Critical support will be broken at DJI 10,805. I'm looking at XMI 1202.25 as worthy signal for a short trade.
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