Is this situation similar to last April/May,with the triple top and then subsequent top ? If so it behoves us to be patient.Price is too extended from the red mvg ave to be risking shorts here and the swing chart is trending up.Two signs that it may be worth shorting the market would be a black candle breaking the mvg ave (ideally with some force) and another cross on macd.I have some cycles coming in around the 14th-16th so lets wait

One thing in the bears' favour is how weak the rally in AAPL has been from the triple bottom.The weekly candle was a bearish shooting star. This does not bode well

http://www.munknee.com/2013/01/will-the-u-s-follow-in-the-footsteps-of-the-once-great-and-now-financially-desperate-argentina-i-wonder/

Audjpy

Low at 55 (fib),3 tops at 89 (fib) breakout on 4th attempt
(Midpoint 72 (Gann) )

Aud

Aud TAS chart again

Gold wave 2 low ?

Shanky has some nice charts here

http://shankystechblog.blogspot.co.uk/2013/01/morning-charts-010412-spx-es.html

note mutiple divergences

watching to see if the 618 extension is exceeded or not

some interesting commentary from Carl Futia   http://carlfutia.blogspot.co.uk/2013/01/here-is-daily-chart-of-dow-industrial.html

 "Just looking at the chart and applying the principle that higher highs typically follow higher lows I can project two obvious upside targets for the Dow. A rally from the December 28 low which matches the size of the rally from the November 16, 2012 low would carry the Dow up about 900 points to roughly 13,800, a new high for the bull market which started in March 2009. A rally from the November 2012 low which matches the size of the June-September 2012 rally would carry the Dow to 14,100.

Those of you who are following the evolution of Lindsay's three peaks and a domed house pattern should know that I think the rally from the November 16 low will end at point 27 of the domed house and probably will be a new bull market high. If this is a correct interpretation then the subsequent drop will probably carry the Dow below its June 2012 low. "