It is not easy situation for bulls when we talk about stock market. Let’s leave behind the whole political situation with debt and just look at charts. 4 hour S&P500 chart shows that bears are currently stronger. There is a pressure down:

4 hour sp500

4 hour sp500

Of course pullback is still in the game, because price can find support at the ichimoku cloud:

daily sp500

daily sp500

But for now it is just guessing. I have short position, but as always I want to exit at one of Fibonacci extensions.

On eur/usd pair there is an interesting situation. 1.36 level is clearly a strong resistance and we may see move down from here. But we should remember that for now the current trend is up:

daily eurusd

daily eurusd

I wait for breakdown below 1.354 to take any short position. For now I am just watching situation here.

If you are looking for some action, check Jen pairs, for example gby/jpy – it is trending very nicely, even on as low time frames as 1 or 5 minutes.