Looking for maybe one close over the flash crash candle of 12253. http://2.bp.blogspot.com/_TwUS3GyHKsQ/TKuQDzddL0I/AAAAAAAAHtk/MOKTVGU8BGs/s1600/wilshire+daily+candle.png Wilshire has retraced some 73%. Deep yes, but still in the realm of a wave 2.
Lets face it, the currency moves have largely driven this rally. Drive oil up to $90 is not healthy nor good for anything.
So all eyes on the dollar where no one expects a sharp, even violent rally. Even I want to write it off.
But we still have 3 big waves from the high.The 4 hour stochs are showing some toughening up and positive divergence. The stochs look like a coiled snake in the grass.
You think squeezing some shorts in equities is a big move? The currency markets are much much larger.