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Markets Holding Steady

Despite a bit of turmoil in stocks due to the inability of politicians to agree on a fiscal cliff solution, our readings are still indicating a firm footing for asset class markets. The S&P 500 is showing the majority of its patterns higher, as are the patterns in AUDUSD, and the upstart currency market leader USDJPY.

S&P 500
M Grand Up
W Primary Up
D Secondary Up
240 Day to Day Up
60 Micro Up
15 Micro Down

AUDUSD
M Grand Up
W Primary Up
D Secondary Up
240 Day to Day Up
L-T Micro Up
60 Micro Down
15 Micro Down

USDJPY
M- Grand
W - Primary Down
S-primary Up
D - Secondary Up
240 Day to Day Up
60 Micro Up
15 Micro Up

Jay Norris is the author of Mastering the Currency Market, McGraw-Hill, 2009

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.