At least we have a Sunday session to work with... Given the run up into the aftermarket close on Friday and the 'news' that the joint Israeli/US military exercise will be postponed, the market could really gap and run. On the other hand, we are hitting into a super-key area for the intermediate-term, and if the 'top' is in, this is an area it really should roll down off of. I think we are at a crucial time/area. I'm looking forward to this week.

And here's a very cool case for a big drop. But, alas, I find things this 'clean' rarely happen, especially when it is posted all over for everyone to see. But, it's still worth noting.

http://www.zerohedge.com/contributed/2008-chart-comparison

I think it is worth to mention that on friday after session S&P downgraded rating of 9 european countries what probably will have the biggest influence on market.

It is interesting that it was happened exactly when ES is in super-key area.

it is, isn't it....that's sort of my theory about prices reaching key areas in general tight into major news. it's always the news that gets talked about....it's a good cover

Good point, sirios. All in all it looks like the market could care less about either side, though. Pretty flat in here, with an upward look to it.

Jim, as I do not belive that it is coincidence and I think it shoudn't go up without reaction on such information I'm rather expecting here something different.

As always Jim is right. Market don't care any S&P and Europe. They just want to buy.

So it looks we should expect at least few months of growing markets.

I posted this three days ago. The 'RTH' high for today was 92.25, and it closed just three ticks off that. But, the noteworthy thing is that the 8.50 point checkback on the way up was dead off my most key line in that area, and that this run up has used a different set perhaps as much as I have seen a set being used. And now it closes the 'RTH' at my area right at the key set line for that set. I'm not saying this convinces me it will roll over here, only that it sure likes to move to the areas that stand out so clearly to me on my charts.

This acts like it plans to keep rising. I'd be shocked if it didn't. But, I may feel totally different when it hits the next levels. For the shorter-term influence, I am watching that 98-99, but the broader area is really 1298-1301, which is only a three point spread on a big move, so that's really the 'center of area'. There is a ton of stuff there. I then have around 1307.75-8.75 or so. Then I have 19.25-22.50. This is the 'super-key' area because of something that comes from the weekly charts, even monthly. If that area, or something in there doesn't turn it, then I think it is possible, even likely, we may take a shot at the all-time highs.

Now, these are all just frameworks, things I am watching based on the technicals. PTA's are only 10%-20% of my 'Trading Plan'. I need to see how things develop, how they act, what their sentiment is (I base this on 'feel', not sentiment indicators, as I am referring to it here), and so on. "Then we'll see."

Posted-01/13/2012 : 16:22:23

Originally posted by jimkane

My next levels are 92.00-.75 and 98-99, give or take. Then it jumps up to a higher timeframe, and those low 1300's levels from way back come into play. Then it really gets moving...

No, not always, but I can't tell you how many times I have heard that, and from how many people... But I guess I do perhaps have a better than average ability to read the markets, maybe...

Originally posted by sirios

As always Jim is right...

I believe Jim. I also know that it is very risky to have opposite opinion to yours, but I think there is no better way to learn as to have my own opinion also if it is wrong.

Originally posted by jimkane

No, not always, but I can't tell you how many times I have heard that, and from how many people... But I guess I do perhaps have a better than average ability to read the markets, maybe...

S&P hits again: "S&P Downgrades EFSF From AAA To AA+".

http://www.zerohedge.com/news/sp-downgrades-efsf-aaa-aa-may-cut-more-if-sovereign-downgrades-continue

We are still in super-key area. Why are they doing it now again ? Is it stay without influace on market like today ?

It couldn't reach for the level I was watching, that will have to wait for Sunday night GLOBEX, but it did set the new high for the entire move by one tick! These guys, they are so funny. See ya all Sunday.