Moving on to the bigger picture, lets take a look at what is causing all the ruckus. I’m not willing to go out on a limb and say we are in defcon 2 or 3 as when I look at the two charts below I see structure that tells me otherwise. 
Namely the Euro has 5 waves down with this being an ending down wave. And then we have that major support level as shown in blue. So should we short the euro and buy the dollar? Should we short something that has been falling for the last 8 months? Not me, I know better than to show up at a party late and I don’t chase buses. So if I’m not willing to chase that bus here on the shortside should I chase the bus on the chart below on the longside also knowing its got 5 waves up and in an ending wave here? 
And on top of that hasn’t a trend been dollar up stocks down? So if the dollar is in a 5th wave which is an ending wave what does that say about stocks right here? Or more importantly about shorting or stopping out of stocks right here (Think JOY)? Also over the weekend we talked about the triangle and how a possibility was that we could pullback for a number 4 as shown below and sure enough here we are. 
And while I’m at it see today’s lows on the NASDAQ comp.? Know whats so special about them at this moment in time? From the November lows to December highs today’s lows are…
