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.

we're supposed to think it can never go down..

This is very interesting. When she closed her fund and explained why, most people said she was totally insane. In regards to the economy, I have found her to be dead on, just as I feel Meredith Whitney will be (although she was early in her calls). Anyway, scroll down and read the Aug 10 entry called 'RED ALERT: It's Open Season on All Customer Funds'.

http://barnhardt.biz/

ES wants the new high. Will it get it? I think it is very likely. I also think it may lead to that upside 'breakout'.

amazing stuff here today...

Hmmm, getting quite a reaction here. Will this fail? It looks possible now, whereas a few short minutes ago it seemed utterly impossible.

I was about to comment on the VIX, saying look at a weekly chart, it's insane. Then Tim posted this.

http://slopeofhope.com/2012/08/volatility-at-wow-levels.html

Here's someone talking about what I have been saying:

http://www.zerohedge.com/news/guest-post-how-badly-does-wall-street-want-romney-presidency

Watch this 99.50 area here in the ES for the next pop. Big clue time.

Very, very crazy 'it doesn't want to make a decision' roller coaster price action. I still think a break to the upside is favored, but who knows.

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