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.

And soon after I post that...

Originally posted by jimkane

That little ABCD morphed into a slightly bigger ABCD. We should know their intentions very soon. I think they are 'up'.

Right to a key price flow area. Now we see if it fades off or not. Key decision for the maniacs right here.

And it rises strongly into the cash close. Now they have a chance in the after-cash to gun it to and maybe through those highs.

So, since the Fed announcement they sold it off, gunned it way up, sold it all off again, and are now gunning it way back up. Cool.

algo,line to line
http://stockcharts.com/h-sc/ui?s=SCO&p=5&yr=0&mn=0&dy=6&id=p19479307026&a=247039384&r=1340222747143&cmd=print

Yeah, those algos sure are programmed with the lines, that's for 100% sure. It's all so easy to figure out, though, I'm still kind of befuddled as to why it can still work so incredibly well, in my opinion. Usually when something is so obvious it stops working shortly after. This looks like it will never stop working. Like they tell you straight out what they will do in advance, and day after day after day they do it, and allow all the traders that can see it to get right on it. Very odd to me...

I think it's because so few people believe it works in the first place. The algos fly under the radar of denial, where traders of all sorts of disciplines are trained to look the wrong way at turns.

1.27 to the penny at the low

why this set?

rat-nice chart!