It's a Counter Trend Stock Market Rally, and Nothing More

Says the mysterious stockmarket618:

The DOW / SP500 counter trend rally suggested on June 13,continues for now. Current target for this upleg: approx 10,700. 240 minute charts remain bullish. Daily charts are now bullish to neutral. Weekly and monthly charts remain bearish.

Since larger time frames are not bullish, this remains a counter trend rally as it’s going against the main trend which is bearish.

this sure falls in line with my thinking that the lack of money printing is very negative for the stock market (outside of minor counter trends).

And I am in agreement with his somewhat bullish view on the euro:

The EURUSD buying support detected over the past few weeks has resulted in a basing pattern on the daily chart and bullish signals continue to strengthen. Weekly and monthly charts remain bearish. Opposite applies for the USD index of course.

So more EURUSD upside and weakness for the USD is expected.