Market view

Well all in all - there was some very interesting things tuesday. The markets where quite flat - but something which I think was very interesting was gold, silver and the small caps (russels) were down a lot and had some nice impulsive moves down. If they are a sign for overall markets, then we should begin the decline today or very soon. I believe that we will see below 1200 on SPX in January and I believe that we are able to go to 1150-1180. I havent changed my mind and this target should be reached sometimes by end of January. We can clearly see that we have 5 waves up , so a major top could be in, but this could also be a start of a wave 4 down before another wave 5 up. Either way, both counts expects a good correction or move down, so thats why its good to stay short at these levels. I still think that last weeks is a "topping" process before a big move down........lets see

Have a nice day