So last line in the sand would be a Nen-star pattern at the 127.2% retracement, although i wont be trading this unless we geta rejection candle in that zone - otherwise stay clear of shorting all time highs as there are no reference levels and people keep bidding it up exponentially
The breakout on a long term basis is signif9icant, in elliot terms it now looks like a Wave4 of a wave 3 has completed which means we could expect a rally into a wave 5 higher to end wave
3, followed by years chopping around in wave 4 to finally push on to a wave 5
I believe QE has distorted natural price discovery which is how markets naturally balance themselves and has increased systemic risk ten-fold, but what do I know? I'm just a trader....
Short term = short jpy's buy stock indices, sell safe haven assets.... I've sold my gold and silver long positions and looking to short them.... Gold first... as it's leading the metals
Deflation in commodities will likely continue and stocks will go euphoric as people chase higher and higher prices at higher and higher risk levels