Not much to add to what was already told here about the importance of the current area. One more think I noticed is that the recent high in $SPX was exactly on the upper ML of an important Schiff set based on Feb-Apr and Apr-Jul swings:





Friday's morning high could have been just a test of this line.
From how it all sets up we may assume that coming move in either direction should be strong and sustainable.

The interesting thing is when the market sets up for an explosive move, but the direction of which is hard to determine, and volatility is on the low end of the scale, those are essentially ideal conditions for a straddle play, in my experience. Very interesting.

I can't wait for the open here shortly, and the gap up and run that one would expect for a Sunday night session after a strong Friday ramp into the close, no bad news over the weekend, and the election just a bit over two weeks away. Imagine if all these stretched areas aren't going to hold how explosive that move could be. Anything can happen, but I'm ready for 10-15 points today/tonight, and a solid up Monday. We'll see. It does what it does, and I just look for setups. But, I can't see why they won't be playing the Sunday night game today...

Next areas:

83.75-84.75

90.25-91.25

How awesome cool, it didn't gap up, it opened and started trickling down. All the better prices to get long from, my dear (Jim says in his best Red Riding Hood accent).

Amazing, some actual downside action. I love it. I'm far from convinced it will follow through in any significant way, but it sure is pretty to watch. And you never know...

Was there ever any doubt??? Down ten points, and right back up. All the better price to buy you, my dear.

Originally posted by jimkane

How awesome cool, it didn't gap up, it opened and started trickling down. All the better prices to get long from, my dear (Jim says in his best Red Riding Hood accent).

That was a no brainer if there ever was one.

Originally posted by jimkane

Amazing, some actual downside action. I love it. I'm far from convinced it will follow through in any significant way...

They're off!!!

GOOG going a little nuts so far today. Look on a 1-minute chart.

Very roughly my areas above to watch at 78-79 and 81-82.

But, this 76.50, which is an area, first has to be overcome, and it sures 'sees' it.

Okay, what a place to close it, once again right on my area. How often do they do that? I still think the odds favor the bulls, but it sure would be nice for these technicals to play out and the big areas to send this way down. I can dream, can't I? I may take tommorrow off from the forum, I need a break, since as you can see, I tend to post a lot. If so, I'll be back as soon as I feel 'rested'. I may just watch you guys, but when I do one of two things usually happens: no one posts and there is nothing to watch, or, I just get sucked in and post anyway.

I may make a few comments today, for example, if/when this blows out my area to the upside in after-cash or in GLOBEX...