Rounded tops/bottoms everywhere...

Markets were not boring moving into the new year but clear selling has commenced. We believe that equities will continue to move lower and that the dollar will also fall in tandem. UDOW some clear defense at the DS2 today around 94.50 but the structure is starting to complete a rounded top, along with most correlated instruments. We think equities can bounce here but will continue to put in some sort of topping structure before the next leg down. Happy New Year!