So, will this gap up and then start the run to that say 1425 area from my scenario last week? The time factor I was looking at said by Sunday night or Monday, but you all know I don't weigh the time factors that I do very heavily. Add in the sideways action for a few days and it has either coiled for a fast pop, or the time factor won't come into play at all. As I concluded last week, I thought the odds were perhaps 75/25 that this will head up to that next level, as opposed to this being a topping formation. We shall see soon enough. I'll post the early indications from the spot FX market when they become available.

Interesting VXX chart. Kane DB ABCD completing in Kane Zone. I also saw a Bear Wedge and a Head and Shoulders.

Good Trading,

Al Kamego

Here is TK's viewpoint on this market.

http://slopeofhope.com/2012/08/sucks-out-loud.html#more

This should scare the pants off everyone. If it doesn't scare you real bad, you simply don't understand how the markets work.

http://www.zerohedge.com/news/behold-feds-takeover-bond-market

In plain English, it tells us we are 'dead meat'. Beyond the point of no return, in my opinion.

Interesting that 6A is selling fairly well off a nice-looking ABCD, and the ES is just sitting there. Very, very curious.

This divergence with the 6A is quite peculiar.

Nice charts, rat.

Al Kamego

This market, especially intraday, is really pathetic. Notice the VIX dropping to a new low. Crazy. That 6A was a lifesaver, so to speak, as well as the action in CL. Good thing one doesn't have to stick to one instrument if one doesn't want to...

And there goes the HOD and 'bull' market high. Once again: There it is!!!