I have no life... I'm starting this topic early because I am sitting around, waiting for Sunday night GLOBEX and my world to begin again...

Hmmmm, futures open up, squirt quickly up, and then weaken dramatically. This is curious, after such a down Friday. And there's the new low for the move as I type this!

New low by three ticks and a quick snap. Just a test of the lows? Or an obligatory snap and then down a lot more? I'm wondering if we may not see some serious downside. Like I said, 60-65 is a key area, with a time factor of Monday or Tuesday as ideal.

It just so seems like it will snap up hard any second now. They have me well trained.

I have 68 by one quote vendor there, and 69 by another as the low. This is 'in the area'. I'd love to see a 'full', deep test, but that might be it. Since it is an intermediate-term area, the range of the area is larger than a short-term area. But, it's getting weak again here, so we may not see the bounce this high up. I'm just letting this do its thing, and 'hoping' for more downside. I'd love the key area to not hold and not even bounce it...

In other words, 'Dump, you Oinker'.

But they know, they know how critical it is that they come in here. I strongly suspect they will.

Maybe right from this spot, maybe from just a tad lower, but they know somewhere in here they have to act, or this thing will get monkey-hammered.

Get ready, I can see them coming.

Here's a thought, just for giggles. Keep in mind the concept of contrarian trading when you ponder this. How many bears are there right now? I see none, but many claim it's all bears. Of those that are 'bearish', how many are saying we are now in a full-blown bear market (ignore permabears)? None that I can see. Of the 'bears' others say are out there (again, I can't find them myself), they all are talking about correction size.

Correction? That means the 'bears' are only talking correction in an ongoing bull market. The only dispute is the 'bears' say we could go down a bit more, and the bulls all say the correction is over. Where are those that say the long-running, insanely pumped up bull is over? No one is even arguing that at all. The only argument between 'bulls' and 'bears' is simply is this correction in an ongoing bull market, a bull market that will continue, over or not.

Here's my point. Imagine, for a second, that the bull is indeed over and we have been in the early stages of a full blown bear market now, which would be the resumption of the next bear leg of a secular bear market. Not one single person would have 'seen this coming'. Isn't that, then, the most likely scenario? The one that fools not only the most people, it fools literally everyone? It's the one scenario that not a single person is 'calling'.

I just read a post where 'head of equity strategy at Societe Generale' says that if Greece exits the Euro the European stock market could drop 50%. As posted on Zero Hedge, a German newspaper recently said 'a Greek exit from the eurozone is a "done deal"....' Point is, a sudden announcement from Greece and this thing could go way down. And no one would see that coming? There are tons of other ways this thing could be well into a full-blown secular bear leg right now.

Again, my point is, isn't it curious that from a technical and cyclical standpoint this is exactly what would be expected, yet it is 100%, in my opinion, not being discounted or considered. And that, to me, makes it the most likely scenario. Just some food for thought, folks.

They had nothing before. Low now 66.50. 'In the area'. I love this market.

Loopy Jim. I need more sleep. Lots more sleep. I was just sitting, watching the news on TV, pondering my day with the markets, when it hit me I had been off by one cycle in identifying the ES contracts in my posts. I was saying Mar like it was the ending contract and June like it was the upcoming rollover contract, when I meant June and Sept, respectively.

No one called me on it (if you see something like this please post a comment so I can get it straightened out). I'm sure everyone knew what I meant, and the highs I mentioned, with their numbers, would have made it clear which contract I meant, but anyway, I fixed it in the posts where I saw it. I think I got them all, but if not, feel free to point it out to me.

When I was much (much) younger I was into motocross racing. Like all the major endeavors in my life, I do things 110% or not at all. I had a T-shirt back then that I still remember word for word what it said: We eat, sleep, ride, talk, breathe, dream, live and love motorcycles. I need a new shirt now that says: We eat, sleep, ride, talk, breathe, dream, live and love the markets. The 'ride' part is especially apropos. I thought of this because before I remembered my Faux Pas with the contract dates I was going to post:

Like I mentioned last week, I have no life outside the markets. Here I sit, on a Friday night, my better half sitting there probably wishing I'd come up with something for her and I to do, and all I can think about is how am I going to make it to Sunday at 3 PM?...