Okay, I'm still trying to get my footing here with this new format. I'm not sure where I'm going yet. We'll see...

Spot FX calls for about a flat opening. Given the slight bias for upside ES, I'd say right now it would up up a little bit. I'll try to post the actual indications when they come in at 2:45 PM (my time).

Hmmmm, indications are for an open at 1400, down 5.50. Interesting.

That's the most I have seen the ES indications off by...

They are really making this look like 'up' very short-term right now...

Watch the little bearish ABCD here for the first clue.

Now, once it blows this ABCD out to the upside, I'm watching say:

8.50-9.25

10.50-11.00

Then it will have to move to a higher degree and we'll see what that says.

It's only been 8.25 that stopped this dead. I must be off today... Shouldn't be long before they are ready to move it up some more.

This is making its move to the next level. I have to see if it does indeed take this level out fully, but if so, it would get to the highest posted very short-term level in a 5-wave sequence. Then it has to make the next higher degree decision (since this degree would basically be exhausted). Hence, I expect some good clues for this. Right now my viewpoint was this was a reasonable long shot off the low once it stabilized and put in that higher low. But, what it will do from here, that we shall see at the upcoming key area(s).

My process still says I want an outline in place, an idea of what side I want to be on, and where, but then I see what unfolds. This helps guide me to relinquish a premise if the action looks wrong for it, or change a premise of the action implies something else is more likely happening. But, that's the best I can do as far as knowing what I might do. It's very dynamic, and takes new info into account.

Now, could that be it there? Yes. Just because I mentioned higher areas doesn't mean it will get there. My job is to 'work' a given trade as best as I can based on what it does. And to make trading decisions based on my view of if I think an area is likely to produce a tradeable reaction at the moment that time arrives, using all the data I have at that time.

My point there wasn't that I think it is done, it's that just because I mention higher levels it doesn't mean I think that level must be reached, or even will be. It depends on how it acts on previous levels, and my read of the price action, as far as what appears to be unfolding.

CDE got hit a little bit this week.