The Near Term Outlook

No doubt the jury remains out relative to short, medium, and long-term headline risk associated with the Global Debt Crises. 

The bill is now overdue and the collectors are banging at their door for payment.  They are putting in a call to their Uncle Sam to see if he might be able to buy them more time.


A weakening US dollar will suggest they are indeed buying time, while a strengthening US dollar i.e flight to safety, suggests things are not turning out quite as expected.

If the medium-term uptrend is to eventually deliver a move north of 80, and if trendline support fails over the short-term, another modest leg down toward a truncated minute degree -c- wave may terminate the minor degree *b* near the next trendline of support, and launch a powerful leg up in minor *c* as noted. The balance of today's Near Term Outlook is available in PDF format here.