Glad to be back from vacation

The USD Index has made a new low and tested 74.69 as its
lowest level, which is just above the 78.6% retracement of wave [A]
The ending diagonal should be close to its end, but we still might need
one more spike down to or just below the 78.6% retracement target
74.54.

EUR/USD, which account for 57% of the USD index has not

made a new top (yet...) As long as no new top is seen I'm still

looking for a new sharp drop. The divergence between the

USD Index and EUR/USD has been seen at all major turningpoints.

I don't know if it's the USD that leads or the equities and it

really doesn't matter. Eventhough we have made a new high

for the year the entier upmove looks very tired and are facing

strong trendline resistance just ahead as well as the 50%

retracement of wave [A].

All spiced up with massive divergens on the RSI, which is a clear warning

That a trendchange can happen any time.

Looking form a cycle perspective, the failure to hold the October 19.

top does call for a elongeated timeconsumption. Important tops

are seldom fund in November or December, but instead in the

periode from January to March. With that said there might be a

chance that a top will be found in the coming days as one of the

minor cycles peak on November 18. Sometimes the minor cycles

can cause major trendreversals, because the major cycles all

turned down in early 2007.

S&P 500 is facing stong trendline resistance just above as

well as the 50% retacemente target of wave [A]. Again we see

negative divergence on the RSI, MACD ect. At the same time

we a backtesting og the broken minor trendline is being seen

is this it? I don't like that the October 19 top was exceeded as I

just mentioned above important tops are seldom found in November

or December, but these times are not normal times.

I had a very nice vacation at Kata beach in Phuket Thailand. It's really worthwhile to visit. The pepole are extremly friendly in Thailand and allmost everything is cheaper there. A days salary is about USD 9 for an ordinary worker. They told me that the amount of turist was only half the ordinary amount (which I was glad for...) and they of cause have been hurt by the economic crises too.