View in US is still bearish. possible head and shoulders with more probability of a correction than a rally. who knows but happy to wait this out.
Extract follows: http://www.cnbc.com/id/33654811
CHART OF THE DAY: S&P
Chartologists, including Greg Troccoli, are seeing a head-and-shoulders formation taking hold on the S&P [.SPX 1066.63 20.13 (+1.92%) ] today. Is it signaling a market reversal?
If it is a head and shoulders top, that means markets are capitulating and if so, that could send the S&P into a bearish pattern for the next four to six months, Troccoli says. If we don't take out the recent highs, the right shoulder should collapse in the next week to week and a half, he added.
Levels he's watching: Upside to 1075 leaves him skeptical. Downside to 1040 would complete the head and shoulders pattern
