Just over three hours. I can't wait... Lots of action over the weekend, including the 'big' Spanish bank bailout. Here's some food for thought. It's essentially identical to every comment on the topic I've made since the '09 bottom. As an intelligent investor I hear the news of a huge, monster (proportionately it's about double the size of our TARP) bailout of the ever so important Spanish banks, and I want to sell everything I own. Shoot first, and ask questions later. If it's that bad, I'm 'a steppin' aside'. But, I think there is a good chance this thing gaps up 20+ points. That is extra significant because we are in a key area. It may have one more little push up, or it could happen where it has already hit. Anyway, the market rockets up, through a brick wall area, on super bad news?

The logic is actually there. I still am caught up in the myth that it's a free market, that it discounts actual value, and that investors will be making decisions on the news. Wrong, in my opinion. It is nothing but manipulation. The powers that be will, of course, instruct their primary dealer minions to spend some of those trillions they are stealing from you and I to gun this up on the bad news, in order to prevent panic, scare hedge funds silly, and create an atmosphere of the market being thrilled to pieces with the bailout. Hence, all is, or will be, well. See, that's the game we actually have.

Combine this with a record short interest in the Euro and a short squeeze there is an accident waiting to happen. And Euro exploding has, since the '09 bottom, meant 'risk on'. This thing is all set up for a big leg up, as insane as that sounds (and is, in my opinion). And it would distress me tremendously if this great area is 'blown out'. But, alas, I am fully expecting these filthy scumbags will do it. To me it's tradeable no matter what it does, but some things would be easier for me to stomach. About three more hours and we'll know...

Funny how 'news' comes out right at key areas so often...

Look at that check back. The 'news' is... The G20 is preparing for coordinated action after the Greek elections, if needed. To me, that's a sell. They are terrified. But, the market likes liquidity.

yup....suck in every last one on the way up too

Next leg up coming?

Kane FLAT ABCD completing in the Kane Zone. Cool

Al Kamego

Is that drop something else, or what? Perfectly set up for another leg up, and they couldn't do it. This market is insane. But very cool, too.

Notice the 'failure' on the 'retest' was an ABCD.

Holy crow. Up like 12 and down 12 in minutes. Not since 2008 have I seen this kind of thing. I guess they realize that the world may be toast after the Greek elections this weekend???

Now, will it head right back up?

Yep.

Originally posted by jimkane

Now, will it head right back up?

And the SPY 'breaks out' for another big push up, appx. 3.75 ES points from where it closed. Now that's impressive. They want it, and they want it bad. Can't wait to see the news over the weekend, and how the market takes it.