I'm starting a new weekly topic.

AMZN just a tad under up 20% off that low. AMZN-ing.

ES selling a little. Now, that's interesting.

Ah, S&P cut Spain's rating. No big deal, who cares, it means nothing, right? In 'the old days' that would be catastrophic, but nowadays it means more money printing, so the market should go up. And any second now it may...

Watch that GLOBEX high at 92.25 here.

It's also the .382 area of this AM's low.

Okay, a stab below that GLOBEX high, right to the .447 and key line area. Now we see if some real sellers are here, or just the manipulators getting lower prices for themselves, for their next ramp.

AMZN now up well over 40 off that low, about 22%. No response to the market selling off hard. Incredible.

Let's see if this 89.25 finishes the ES off, or not. I'm thinking it is done, but if not, I would expect at least a serious bounce off it.

Okay, the ES is starting to move up nicely, exactly as expected (and posted). Let's look at some levels. I'm watching the ABCD in here, which is fully hit now with this 92.50 burst up. I doubt this will hold, but we'll see. Next I am looking at 93.25-.75 which is a prime area, and then 94.75-95.25. These are center of areas, as usual. They are also very short-term areas, only relating to this bounce. If they give way the short-term and intermediate-term areas will be the influence I'll be watching next. I think the trading action has just been superb lately.

93.25. Next area hit, as expected. I also doubt this will hold. If it gives way, that's a big clue for me. I think the highest probability is that the entire 'sell-off' on the Spain news will be made up soon, and then it can resume its uptrend. Go back and look at how news has been reacted to in this 'bull'. News that should devastate and crush the market produces a quick headline reading bot sell, and then it is made up quickly off usually the first area it comes to. I have seen this more times than I can count. I have little reason to think it will be any different this time. But, if it is, I'll be ready. I'm not married to any opinions, scenarios, or sides. I just look at what unfolds, and accept that.

What a crazy finish. This market is just nuts. See everyone on Sunday.