So here comes another up Sunday night GLOBEX/Monday - what a surprise!

Wow, very exciting trading since that announcement.

Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

Seems the only thing that makes for excitement is a sovereign downgrade...

Nice reaction off that small ABCD:

Today had lots of small, scalping style trades from pattern and area to area, very favorable for target traders or even my style with a tight trail on say a 1-min. But one would have to have concluded the action might be like this (something that happens frequently after a big trend day) early on and then adapt to that scenario.

Last time the 'first move is almost always wrong' Fed move rule didn't play out. How probable are 2 misses in a row?

Actually, there wasn't really a move in either direction of any substance yesterday, so I'd either say the rule doesn't apply, or the move today is the first move. Recall last time we discussed whether if the first move continues the next day, would a corollary be it reverses from that move. Perhaps, also, if the first move is on the next day?

Originally posted by jimkane

So, how many trading days until it's back at new highs? One more? Two? As long as three?

Okay, looks like two days to the new high. I wish I hadn't added the comment about being sarcastic about this. That makes it sound like I didn't think it would do it. I really meant, it's so idiotic that it may do it that it makes me angry. I know it's just great for trading, but there is more to life than just trading. There's what is left of your country when you go to spend the trading profits. Unless they turn it in here soon (remember, I'm not in to playing 'W2's' unless the point 1 is a PTA on its timeframe, and this high surely isn't something I can call in here other than for a quick countertrend trade), the new highs should be here soon. So, the area to watch is here to just up a little bit, but I'd think they'd want to ramp it to close strong on Friday for the up Sunday night/Monday thing. But how about that modified Fed announcement rule???

at the screen... waiting on the big apple......

Watching you short AAPL is going to be fun for me, roofer, as I just completely lack the stones to short a chart like that, even for a quicky countertrend move...

i have many stocks and etf's aboutto hit .886 on gap on 5

Be careful on the ES in here, it is giving me some 'signals' they might hammer it a bit any time now. I'm staying long side, letting it play out, but it's making me very nervous in here...

Great charts, roofer. My area from yesterday did hold, and it did put in the lower high, for now. Very impressive. I guess the 'news' was a criminal probe into GS. Slowly they seem to be losing the ability to ramp this on bad news. It's probably just a temporary lull, but at some point this house of cards is going to implode, as they always do.

My students should be able to see what this gave me into the big area from yesterday, to get me ready for the short side off the GLOBEX high.

BTW, AAPL rolled within 6 cents of the .886 off the high, by my chart. 6 cents! Incredible.