Markets have taken a few Ecstasy pills and are seriously high. I do not think this will last.
Major European and US averages traced out beautiful corrective zig-zags to the upside. Similarly, the time-old market indicator - Copper is also quite weak today, and is likely finishing its correction higher.
Finally, Asian indices have not at all participated in this rally, even though they fell a fair bit in line with Europe.
In short, go SHORT.
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