Everyone ready for another exciting week?

FB took an interesting dump today. I am watching three levels on that POS. They are:

27.65-28.20 (hit today with that 28.21 LOD)

25.85-26.45

22.95-23.35

These levels are give or take, center of areas. Obvious point: If I plan to use an area to trade against (or for management) I see how it reacts to the area, of course, I don't just do something because price is at a certain level.

According to ZH this was the narrowest range day for the ES in over three months.

Originally posted by jimkane

For those that were wondering, no, that wasn't a great day for potential intraday trading opportunities, in my opinion. There were a few small things, but overall it was quite boring. But after that huge Friday move, and this tight coil, it may be moving again shortly.

Interesting:

http://www.zerohedge.com/news/its-different-time-scariest-equity-market-chart-around

Wow, look at that! Notice it was across the board, almost tick for tick, ES, CL, 6A, and GC. How many times have I pointed that out? 'Risk on'.

ES one tick from a new high for the move.

AUD policy meeting minutes any second now...

And the Aussie jumps...

And the ES sets the new high for the move.

Let's see if it's a sell the news/sell the pump event. It sure looks like it, but I can't tell until I see how they handle the first checkback area.

Looks good so far. I'd expect it to come out of this base with another leg. We'll see.

That's what I wonder, too, rat. But beyond the lunacy of all that, my biggest concern is all the people who have just some small amount of savings, fighting the dropping standard of living since around 1972 in real terms, and they are being forced by the Fed to seek yield in much riskier investments. Say they are retired or near retired. Imagine being 70 and having to put all your money in the stock market because real yields are now negative. The Fed is doing that on purpose, and admits such. Force people into the market when that is not an appropriate investment for them. This is sick and twisted.

And then along come the propaganda cheerleaders, from all the TV financial shows, to the endless analysts, to guys like Carl. If you are not part of the solution, you are part of the problem. His endless bullish drivel motivates a certain number of people to get long the market from an investment standpoint. He spews propaganda for the evildoers. And that is what I take issue with. Him and all the rest.