This is a post i made this morning. Really sums up what i think is going on.
: To me the only question is best case, How long can Fed not raising rates keep this late cycle bull market going? Technically we have a few rejections from resistance in the long time frame charts and seems the obligatory Santa Rally combined with dovish speak could get the the December bar to tag resistance as well.Maybe one more tag for January then the fun begins. Every point the USD appreciates is farther into the abyss for emerging markets/commodity based economies. With these emerging markets’ debt denominated primarily in USD we just basically have another Fed induced credit crisis in the works.
ES Futures – Monthly
The best charting teacher I know: