As I think the Dollar may be the most important market right now for direction I will post on that. It looks like we may be in for a short term pullback in the Dollar as we have registered a TD Sequential sell signal on a intra-day chart. This would imply some upside to stocks. Of course, we have a FOMC communique tomorrow... so that should cause a little volatility. Generally, though... its hard to postulate that the bulls will give up so easily, or quickly, after their rampage for the last few months.
One thing is for certain... this is becoming an important junction in the markets. I think we are revolving around a pretty important turn date on many markets as we look at the end of summer and start of fall. I think there is a fairly big reversal in here. It may have already occurred... but I bet there is at least a re-test.
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