Intense overnight action , pretty much drives a nail into the bulls heart i think. Breaking the 1036.25 feb low would be devastating. I had hoped that we would find a bottom by the 24th,and as we havent broken the feb low yet , we surely seem destined to do so. I said yesterday i thought today might be the bulls last chance. Prophetic to say the least. i believe the original target of 1014 or so may be in the works,although a short ,quick rebound rally could occur at any time.In fact i got home right as we were hitting 1041.50 and went long instinctively at 1042.25. Remember the previous weekend preview, that 1041.50 number was explained. my one min chart showed 1.618 at 1045.50 and 2.618 around 1048 so i exited early at 1045.00. truth be told that was a pretty lucky trade. Were already 30 handles south of yesterdays close and tho i have no idea what happens between now and the open, i'll bet we see lower yet today. Take note that even tho the june es feb low was 1036.25, the current globex low of 1041.50 equates roughly with a cash spx exactly at its feb low!(1044 if memory serves) . Again ,not good! Gonna sleep.. see ya soon.

CLOSING OUT HERE AT 1039.50... tho the one min projection is 1041.50. see ya later!

numbers I'm working fom down here...

1012.50

1018.75

1025*****

1031.25

1037.50 **** split number

1043.75

1050 ****** magnet air pocket

bias is long to get 46 -50..air pocket

aove 50 is 56.25 and 62.50

Peak volume in ON is at our 43.75 so that is becoming more importnat to point direction..still early though...I'd find it difficult that this is just gonna break away from last weeks lows without testing those lows...in RTH if we open below them,,,,,,,that's the 51 area too..

43.75 needs to hold in order for us to get our 50 print...failure now should run out the ON low and RTH low

air pocket above 50 now...( Too late)..see how they held the 37.50 spilt and then went back to 43.75...then that held and they hit the 50 and higer...the fact thatthey can't print 56.25 and came back below 50 is telling us something....too fast and late on this....so common sense tells us that a failure to achieve 56.25 will target 43.75 again


failure to print 43.75 will run it back to 50....just pposting quick as we need entries to get these targets...just poointing out the concept...



always tricky after an air pocket fills...

so we are basically looking at the rachet levels to assist our trades..so if one fails to target it will come back to the last one etc,,,,if it can't get the lower one it will search higher rachet level..


...this is use in combination...but if they can't print the 56.25 then they will print 43.75...hopefully the concept is understood

trading and typing is just stupid!!!

that 50 - 51 tried to bust it above twice...imperitive for bulls to keep it above there now...as that was last weeks lows..so if they do they will go for the 56.25 on next push up..otherwise 43.75 is coming...

not posting specific trades here now....concept only

now how about 68.75...that would be perfect....as long as 75 doesn't hold......otherwise they will revist 81.25.... c ya in the a.m.