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.

Stop run and done there, or the next leg up?

So, I see nothing but them taking out the GLOBEX high today, but if they were going to stall I'm watching around 43.00-45.50. I can't imagine such a deep 'W2' forming, but I'll watch anyway. Imagine these knuckleheads, they gap it up big, drop it over 20 points (the magical 20+ I am always talking about), and then run it right back up 20. Idiots. But, it makes for some great potential trading, that's for sure. Notice the big divergence with the Euro on this ES rise.

The above area is based on it being able to handle this current area and possible stop run and done move. It is possible it is done right here.

Watch 38.25-.75. But like I said...

Full area 37.25-38.75, but they may crush this...

Notice crude leading.

And 38.25 draws the reaction. Hmmmm, what a surprise. Let's see if they can get it to a new high for the move now, or does it crap out at this 40.25.

And 40.25 was indeed it.

Now watch 37.00. This is a key area. If they can't hold it, watch out.

The complete lack of upward reaction off this key area is telling to me. Or, in 'the old days', would be telling. Notice the extreme chop mode it went into as soon as it hit there. Watch for the after-cash pop, though.