Morning Post

Minis up 10. Nothing should surprise you anymore.

From Bloomberg - Stocks, Commodities Gain on Growth Outlook; Dollar, Yen Decline  "Stocks rose around the world, commodities advanced and the dollar and the yen fell on signs central banks will keep interest rates near record lows to underpin the global economic recovery"

SPX daily - I'm breaking this chart back out in honor of the 10 point rise in the minis this morning and their sheer disobedience of the overbought indicators to continue their stratospheric rise to infinity and beyond. Just in case the dailys do decide to embed (which they could). The big question is does the dollar hold support.

SPX 60m - Indicators ready to rise on this chart. One would think they would embed down here while the overbought dailys come down. At this point I'm assuming the wedge support is valid and the higher low is set. Some are calling this 2 of 1 of 1. I'm still not sure. This is either and A or a 1. Bottom line is we're headed up this morning and most likely for the rest of this low volume week.

/ES 60m - OK, is it a large diagonal (upper dashed blue line) or is this some sort of A or 1 up. Sorry, I'm not going to guess on the count, but I'm leaning towards a 1 of the final wave to the top (if 1113 was not the top).

DXY 60m - Crushing thru two potential wedge lines headed towards support and the green lower diagonal line.

See EUR/JPY, Gold, NATGAS and EUR/USD from last night's post. 

Have a great holiday week.