Cable

Huge triangle in Cable right now, that may have bottomed today - I think we may retest the highs.

This would lend support to a wave 1 high in the US Dollar Index and imminent dollar weakness across the board as it retraces. This in turn would support a bounce in equities IMO.

Was looking at the long-term Elliott Wave count over the weekend (and I really need to get hold of data going a lot further back). There are multiple ways we could label the recent action, but here's one that's actually quite bullish short-term, and where I think we actually are (fits in with the triangle seen above).