Market view

The same pattern remains on the daily charts and I'm still looking for a very large rally to the upside.

I looked at some other world charts tonight and saw that the Australian markets is making also one of the most perfect inverted head and shoulders patterns which is extreme bullish from here.

TBT is looking great and I think its about to start its large rally to the upside with TLT going down the drain.


Conclusion:

All charts and patterns remain the same , what we saw from 1292 when I actually called it a short and short the EU rescue package and fade it , I was right with it. Right now is NOT the time to short , I'm sorry but you are way too late now , if there will be anyitime this year to buy that would be now ,, a major rally to the upside is underway imo and I think we will get a great santa rally which will take us ABOVE the 1292 highs. Therefore I remain heavy long small caps and TNA/EDC.Remember I called the lows in 2011 at the exact bottom at 1080 area , what we have seen from there is a major rally to upside and then a very good pullback before we move higher imo.