EUR/USD - We have now broken below the green Pitchfork support-line, which is the first warning, that a much deeper decline could be under way. We of cause need to see the break sustained, but if it is we should see a move towards 130.85.Short term we will probably see a minor reaction back towards the break-point at 133.20 and we might even go as high as 134.10 again, before the next push to the downside.
USD/JPY - Are we in an a-b-c correction from 75.55 or are we in a new more powerful uptrend?I suspect that we have seen a major bottom at 75.55 and should soon take out resistance at 79.51 for a continuation higher towards the 84.85 - 85.45 area.
Short term a break above 78.45 should do the trick.
S&P 500 - Thanksgiving did the S&P 500 good I can see... If my short term count is correct, we should see a reaction higher towards the 1,193 - 1,198.50 area, before the next decline towards neckline support at 1,083.That said take care, we are in wave iii, which normally is the most powerful and correction can be very shallow.
Gold - It seems as we are developing a small wave iv triangle, which should resolve into a full-scale test of support at 1,635. If the triangle count is correct, support at 1,635 should hold for a correction higher to the 1,680 area before any new attempt to the downside could be seen.
Crude Oil - The neckline support is holding firm and could spark one more go at resistance near 98.65 in a flat correction, When this rally is done we should see a new attempt to break the neckline support for a much deeper decline.
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