Still on the road today, so today’s post will be brief…

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Yesterday’s call for a dip to the SMA10 was fairly accurate.  SPX reached 2103.76, which is about where the SMA10 was after all the dust settled.

So, now we’ll look for the other shoe to drop.  SPX’s upside targets remain in place, and USDJPY shows no signs of spoiling the party at this time — with the white .886 or the previous high as a likely target to lever stocks higher.

Interestingly, DX is coming up on the .500 retracement of the decline from 121 to 71.  It looks like a pretty good channel intersection as well.  Perhaps a reversal in next week or so?

GLTA.