The S&P500 is reaching the 1.618 fib extension zone (#1) (from descent 2007-2009).
Also some daily 1.618 fib extensions (#2 & #3) are in this same zone.
imo, the zone 2130-2150 will give a good and relatively safe short opportunity.
Crude could see a bounce as it is nearing support zone and RSI is in oversold territory.
The USD Index is also nearing resistance. Going long in 76$ zone, for a short term.
I had another point of view on the German DAX. The chart will say more than a lot of words..
Recently I published a bearish point of view on the S&P500 but...I start to doubt.
As the DAX is almost a copy from the S&P500, the idea is also valid for the S&P500.
Additional support for this idea: the interest rates will stay low for 2014 and tapering will go on for...
The S&P500 is almost at its 1.27 fib extension (2007-2009).
This value on the ES is 1839. This mean another 0.6% increase before reaching this point.
I added an indicator to show the deviation from the 55EMA. This deviation is very big.
I think it is unlikely not to see any good correction in January.
