So the Fiscal Cliff got "solved" and now it's onto the debt ceiling negotiations and another possible downgrade of the US government's creditworthiness.
It's Risk On this morning. In less than a month, I've seen my small CLF position, which is another proxy on China, swing from -25% to +7%. Crazy. FXI is doing swell. This could be the world we live in this year. Big swings.
Watch 1448 today. Above 1448 could put pressure on the scenario outlined in Three-Wave Structures, Part 2 which is proceeding well. E-mini futures have exceeded this equivalent area.
A new high above 1474.51 without a new low below 1343.35 would have me on high alert for a TOP.
I'm out most of the day tomorrow and all day on Friday for a snowmobile trip. About all I want to do today is state my trading goals for 2013 which are to deliver a return of 35-50% with a maximum drawdown of 1% or less.
My favorite trading psychology author, Ari Kiev, MD who wrote Trading To Win, calls this speaking the result. "You create the future by speaking it and then living in terms of what you have said."
I'm putting this out there "in print" so that I commit to it. I know what to do. I've achieved both at different times. My goal is to achieve them together.