On September 25 th my pullback target on EUR/USD was at $1.2670 which was clearly defined by my red support level ! Here is the old chart :
The pullback went precisely down to $1.2670.
Now I expect some sideways trading. I think we could see $1.30 soon.
The last indicator that i'm looking at ,that could produce some downside correction in the S&P 500, is the EUR/USD.
I suspect that the next time the EUR/USD reaches that red resistance line (near 1.26 or so), we could become more comfortable in shorting the S&P.
See how the S&P did the last time the Euro touched that red line.
So to sum it up, I'm looking at a DBC near $29, TLT below $120 and the EUR/USD close to 1.26 in order to become comfortably bearish.
Lots of trading sites are looking at the $VIX so I won't bother going throught it.
On another note, here is a nice picture taken from the village of Roussillon in the south of France during my vacation.
