Just over three hours... I can't wait. Got lots of ideas of what may happen.

Make sure you read the economic section. I have started posting in there again recently. I wanted to post those things in here, but held back. They have some relevance to trading, as well as our lives as citizens of this great nation. I think everyone should read what I post in there.

The Euro and Aussie are down very slightly in the spot market right now, indicating a flat to down a few ticks open in the ES. No monster gap up indicated, at least right now. If I feel like it in a bit I will post a few areas I am watching.

On the downside (hah, like that is possible, right?) I have a key level at say 21.50-22.00, and a level above that at around 27.75-29.50. In the broadest sense, given the timeframe the levels come from, this is all part of one area. Again, 'somewhere in there'. But, as I joked above, is there even any sense to looking at downside levels? The 'bulls' tell me no, there is no sense to that at all, especially with that Friday ramp and close at the high tick. Now, anything is possible, and I could see this bouncing to say 54.75-57.00, and I would actually prefer that, but then I'd like to see it start back down. The downtrend would still remain technically intact to me even if it bounced as high as perhaps 68, but I'd rather not see that.

It's not out of the question that this could have yet one more push up, but I'd really hate to see it. To make me happy from a technical perspective that was the high we just saw there. Those 'bulls', though, they think their Kung Fu is strong, and maybe it is. Hard to buck someone who has trillions of dollars in manipulation money in their corner. Like I said, this may go up until the collapse. And, if it is a hyperinflationary collapse (it may be), then, like Zimbabwe, the market may be the top performing market in the world, in nominal terms, of course, as in real terms it will likely be way down.

Anyway, I won't post areas overhead of the same degree as the downside ones I just posted, in keeping with my 'I like to only post areas in one direction' concept. The areas I posted overhead are of lower degree, to be thought of as possible bounce points on the way to the lower areas. Keep in mind, I am just posting areas for basically one scenario, and I'm very quick to adapt to what is unfolding and what I see. But, I won't post both sides so as to avoid the semblance of the 'It could go up, or it may go down, and on the other hand (like the three-handed economist) it might just stay the same for awhile...' syndrome. Regardless, we'll know soon enough.

ES indications are out, and as I thought, it is set to open at 1350 right now, which is down 2.50 from Friday's close.

Indicated at 49.25 right now.

They're off!!!

Anyone notice beans are looking ready to take out their 2008 bubble high? And look at wheat over the last several weeks. Those poor starving poor people...

What a lot of anticipation for nothing... Zzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzzz.

I sure wish some sellers would come in right here, right now.

So, I wonder if this recent high is critical or not. I showed this with the S&P cash index (the $SPX). It looks pretty much the same with the ES #F.





Chart created on QCharts, courtesy eSignal.

Ridiculous, pathetic market. 37 minutes of action, and then over six hours of nothing. Sure, it was a grind/ride until close, but what fun is that? Sure, if one was long he or she may have had around five more points potential riding for over six hours, but a pay rate of less than a point per hour is pretty pathetic. Lots of risk exposure, and very little gain. But, mostly just crazy boring.

They blow their whole wad in a half hour. Idiots. Just plain idiots. As you can tell, even though I am of the opinion that all this craziness still seems to follow the tenets of the methodology, it doesn't mean I don't get quite upset when they are just so stoo-pid all the time. Okay, see everyone Sunday night, where I expect, as usual, drum roll, please... a gap up. Long live the bull, and his partner in crime, the ram.