Multi-Month Retracement Approaching

Although the indices can move higher, we are witnessing an exhaustion point – Institutions are net sellers, the FED/ESF net buyers. Volume is near absent – Volatility only remains in the most liquid instruments – Energy & Currencies.

2575 remains the potential target for the ES – this places the SPX @ 2578/9.

China is reportedly beginning their new Yuan based contact for Oil tomorrow…. convertible to gold purchased outside of the SGE – ie. Global Markets.

Martin Armstrong believes 23,700 is possible for the DOW on this move.

I do not… Marty is plenty wrong, as are we all. Socrates issued 4 intraday warnings over the last week… 2 – Potential Sells, followed by 2 revealed targets for DOW and reduced risk profile as support lies at 20,000K now.

Whipsaws abound.