Chuckey, on the Chinese New Year bit, workers would be starting home this week. The New Year really begins in earnest on 22 Jan. In China most, if not all, workers take 2 weeks. So from 22 Jan most things close down for two weeks.
I am inclined to see it as a correction. I note that this morning some EU economist is saying the Euro should not go beyond 1.30 and that the Central Bank should intervene to stop it going further.
Regards
