Okay, I guess jarek must still be skiing, so I'll start this week's topic. Let's make it another monster week for quality posts.

Midcaps just smokin' off at another new all-time high. I wonder why people that keep looking for bearish 'W2's' all the way up keep ignoring the Midcaps (and Russell) setting new all-time highs. The Midcaps by a large margin. That's not generally what one sees in a bearish scenario. Yet it keeps getting ignored...

That's not to say some day this may not roll over, but how many times have the Midcaps led the new highs? Then once 'they' will be right, and they'll say 'I told you so.' Follow the clues.

ES at the high for the entire move. Not that that is critical, remember those Midcaps. But, it's ready to either roll over, or hit some stops.

And there it is. Now watch for the 1-2 tick game, or for follow through.

And no, that's not a 'it's either going to go up or it's going to go down' comment. Think about it.

Top of the hour Fed minutes. That should be a good excuse to shake things up a bit.

Very interesting 3D into the new high with a SL and green set, yet no follow through to take out the 3D, and no drop off the 2-tick new high into the green set line(s). Sure looks like it should roll down to the green set magnet. But, the tick stop game is a swift move, so that didn't happen. Waiting on the Fed minutes? Very curious, and same as yesterday, dead action at this time of day.

Part of my point is, a 3D, a 2-tick new high, a SL and green set, nothing has brought this down so far. Why is that? So, I suspect they want 'up'. They had great chances for down, and didn't take them...

Okay, there's the big roll, on the 'news'. Let's see what it does. So, the 'read' that they didn't take the opportunity to take it down means they likely want 'up', well, that may be dead wrong, or they may just want a better price first. Let's see...

Through the green set ML. Lower // and key Fibs 28.50-29.25.

If it can drop below this 30.50, and that's a big if.

Thanks - I must have been sleeping indeed