Euro stopped at a very interesting area, showing some potential for reversal: bullish ABCD (H4) zone at the same price level as grouping derived from bearish ABCD on D1, at the top of B point and daily MA(50).

Thanks for starting to topic again, Marcin.

Early indications are for the ES to gap up slightly at 1515, the high of the move from Friday. I suspect the highest probability here is a gap and go. We shall see, as this is an area here. I think it wants the area just above, though. The 'best' spot is around 20. But, like I mentioned last week, if it gets to there, it seems to me it will just get manipulated to new highs again...

Now indicated at 1515.50, new high for the move...

16.00. Gap and go.

Gap and go...

I doubt it will amount to much, but I'm getting that 'need for caution' feeling here, and I'm getting it quite strongly...

Well, now, what have we here?

Yes, indeed, what do we have here. See how I posted that 'vibe' I got? Look at the time stamp, and go to the 1-min chart and see where that was. Keep in mind, too, I had to observe, get the read on it, then post, so I had the read a bit before the post time. Pretty amazing, I think.

Okay, unfortunately, it's time to start looking for where this will start back up... First area right in here. Yuck. Why can't it just keep selling?

And as if they rang a bell (it's from my favorite trading book Reminiscences of a Stock Operator), right up it goes off that area. We'll see if it sustains, or if they need another push down. Regardless, I have little hope in any real selling.

2 ticks from the new high. What a shocker.

Read the links in this (and scroll up and read the article if you want). It's a 'glitch' in human nature that I simply don't understand (and I've been studying it intensively for years) why there isn't total panic, riots in the streets, and so on, like in many other countries. We will not do anything, as a populace, it seems, until we have a total collapse, then we'll be left with ruins and rubbish, and we'll all be saying 'What happened? No one could have seen this coming... What bad luck this is.'

http://www.zerohedge.com/contributed/2013-03-02/cola-changes-pro-and-con#comment-3293759