FX

 FXE 15 min leading negative divergence suggesting the dollar will see some decent strength, which is equity negative as well as commodities and energy.

 The 10 min FXE chart showing the same...

 UUP positive leading divergence on the 15 min chart...

I've been getting a few questions about targets, it's difficult to say, but as I mentioned yesterday, the point of the move is to inspire confidence in the short sellers, so it could look pretty nasty, although we'll be able to see the underlying action in any decline. I don't know if a move back in to the triangle will be enough to convince short sellers that the triangle was a failed pattern and induce them to sell short or if a bigger move below the triangle will be needed. We should have a better idea once it starts.

The long term charts of the market reman positive for a move higher after this shakeout.