BOTTOM LINE: Evidence is mounting that asset markets are getting ready for some serious corrections in favour of the USD and against everything else!
EuroSTOXX50, on an hourly chart below, could still mount a ~3% rally that I believe would be final for this cycle. However, I must stress that the structure from November lows is now complete, and could very easily fall apart here.
Same applies to the SP500, shown here on an hourly chart. While a new high for 2009 would be most welcome, it doesn't have to materialise - stocks could fall from here, and patterns would still look great. Any strength into 1120 should be sold into, in my opinion.
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