“Thus, it should be understood that when pro-US figures use the term, 'rules-based international order,' they are not referring to anything analogous to the rule of law. Quite the opposite, they are using Orwellian language to describe a system in which essentially no rules can be established and/or observed, given that the dominant state has the prerogative to violate and/or rewrite “rules” at its whim.” Aaron Good, American Exception
If the bulls lose control of 765 we may see a fairly dramatic decline to set an intermediate bottom. There is potential to 545 but that seems rather extreme.
A measuring objective of 605 seems more likely, although it does seem a little early in the cycle for that in the first half of the year.
