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JI
jimkane
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Posts: 33,089
Am I the only one excited? Ready to go? The Greek elections are too close to call, but absolutely nothing indicates in any way any need for 'coordinated action' from central bankers, or any additional money printing. Nothing whatsoever, in my opinion. But, and here's the rub, the insane part: the market is expecting the printing.

Now, if they don't get it, the market would be inclined to go down. This would be 'disorderly', not in that it would be truly chaotic i.e. big selling, just a small decline of say a few points, and anything considered 'disorderly' justifies more money printing. So, I suspect we'll have some printing anyway, now that they announced it 'if necessary', and the market going down if they don't get it would make it 'necessary'. See the insanity of all this?

So, I expect a big pop on that announcement. In reality, this is set up as the mother of all 'sell the news' events, especially after that crazy pop into the close and good-sized additional run up in the SPY after the futures close. We shall see soon enough.
JI
jimkane
Rep: 3,058
Posts: 33,089
Okay, watch the bullish ABCD area here.
JI
jimkane
Rep: 3,058
Posts: 33,089
ABCD at .382/.447 at most key line, and it draws the reaction, of course.
JI
jimkane
Rep: 3,058
Posts: 33,089
One hour and one hour and fifteen minutes are the additional info/press conference by the maniacs. Not sure how the market will react, seeing as it appears as though it will be way, way up off the low at that time...
JI
jimkane
Rep: 3,058
Posts: 33,089
I do have to admit, the trade potential off that low and key area, with a clear 'W2' and 'W4' so far, is about as easy as it gets, in my opinion.
JI
jimkane
Rep: 3,058
Posts: 33,089
But will they sell it up in here? It seems almost impossible to imagine, but that's the plan. It's just will it sell now, as they pump it to avoid disaster, or after the press conference, or tomorrow, or the next day, that's hard to say. But for a market that lives for its next meth/heroin fix, I don't see how this can avoid a big sell.
JI
jimkane
Rep: 3,058
Posts: 33,089
Next area hit, the key one. Under normal circumstances I'd be looking for a trigger here, ready to sell the heck out this right here.
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jimkane
Rep: 3,058
Posts: 33,089
I'd think they'd want to at least sweep those highs at 57.00, or more. But, who knows. This is a key area here...
RA
rat89
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Posts: 7,015
I'm looking for iwm 80+ area...don't know if it's today though
JI
jimkane
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Posts: 33,089
I'm starting to wonder if this wont head right to that 80's area and the ABCD level there. I'm really starting to lean towards that as a strong possibility.
RA
rat89
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uso tagged the lows.....wouldn't the biggest surprise be a massive move up?
RA
rat89
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