I thought I might try something different here, and see how it goes. It's quite difficult for me to post a lot to the various topics, especially with charts, since the method I use for posting charts is very cumbersome. Some charts can take me a half hour or more to put together. Since the charts I use for posting are not my 'working' charts, this work is duplicative.

I have various ideas and thoughts here and there about different things, and if I have a 'central clearing area' where I can just put out a sentence or two, pointing to something without doing the work, the members can do what assessment and analysis they want with the ideas, and post charts if they want, preferably to the respective areas they have for that topic. This way it would leave this topic more 'clean'. If you have a question or comment on what I was pointing out you could post that in here.

Let me know if you have any thoughts on this, or anything you think would be helpful/useful. Keep in mind I am not going to just tell you all my best setups in advance, especially if I plan to trade them, as that is not 'what I do' in here, or anywhere. I want to point out things that may need some work, and might go unnoticed otherwise, or are just of interest.

Based on the larger area discussed maybe this wave 5 of 3.

That's what it looks like. And all that points to the 'big' lower area. Notice the 'hyper-fluctuation' on the tick/1-min Russell mini as the areas are slightly breached. They don't like this...

Yup, fearing for their year-end bonus...

It's gonna blow...

How do you spell 'Swoooooooosh'? Is that right?

4pt CP on Russell before it swoooooshed...

Hmmm, ES moved about 33+ points in just over a half hour there. Can't say that's a bad thing for intraday trading...

So, is it bounce time now? What might some of the clues be?

Jim, can you clarify your definition of 'bounce'. You use the term quite a lot. Are you referring to price turning around after having had a lengthy run down or up?

Mostly I use it to imply a change in direction move, usually swift, and most of the time not lasting very long. But 'not lasting very long' is referenced to the timeframe the bounce 'fits' on, based on 'context'. So, if we hit a daily area a bounce may be a lot of points, and be playable on the intraday timeframes, or we may hit a bounce area on the 13-min, and depending on the 'context' and overall layout, may be tricky for an intraday play (unless one is working down on the tick charts), and may be better for a setup to go back with the trend, once the bounce exhausts itself. I hope this helps.

I think the second chart is particularly telling. I agree with the conclusion, this market is nothing more than Euro-yen carry trade on, Euro-yen carry trade off. No balance, no participation, no depth, as I discussed in my last monthly commentary, just leverage/deleverage, risk on/risk off, and that's it. Skynet is totally sentient. How long, like in the movie, until the machines decide to vaporize the useless humans?

http://www.zerohedge.com/article/tale-two-decouplings