I'll start it off again this week, early. I'm going to make a few posts regarding sentiment and other such things as I feel we are getting close. It's either already done, or it has to have that final, insane, suck every last one in blow off move. I'd hate to think that move carries all the way to 2000, but it may.

Many are watching the 1750-75 area and areas near that, so I think the odds of that being it are very slim (you never know, though, especially if they say that area will only check it back a little, or not at all, and then they post higher levels, which is what I suspect they will do...).

I wish it could be here, but I just don't see it. Also keep in kind, the debt ceiling is coming up again this fall, so maybe that's the phony catalyst. I just don't know. Anyway, some sentiment to ponder coming up.

http://slopeofhope.com/2013/07/runaway-russell-epiphany.html

This is so funny. Here are three successive headlines:

Detroit Files Chapter 9 Bankruptcy

Stocks Surge To New Highs - Best Run In 32 Months

Google, Microsoft Miss Top And Bottom Line; Stocks Tumble

I'm not up for posting a chart right now after more posts today than I can count (I don't know what's wrong with me with all this posting...), but look at EEM. This rollover here is dead off a key area I have. Somehow, I just can't see this rolling over like it 'should', the way things are so bullish. I also have an area spread throughout 41 (41.35-41.80), so it may head for that if it can't sustain this lovely start down. I just wanted to point this one out for study, and the importance of watching the emerging markets right now.

Crude should be setting a new high for the move again shortly.

Interesting stuff that is totally ignored by the bull market mania crowd.

http://www.zerohedge.com/news/2013-07-18/are-stocks-cheap

Nikkei futures just dropped almost 600 points. It's done the typical snap back after such a rapid plunge, making up about half. Now that's some crazy stuff. That's twice now on the Nikkei with a crazy drop. Nah, it's not struggling to hold that enormous run up at all...

Now, if the ES continues to drop (it does look like it may), the first area I am watching is around 63.25-65.00. It is also possible (though not likely) that an intermediate-term drop has started. What I like about that is I am not seeing anyone predicting a drop from this spot. Also note that the previous swing-low is at 65.75, and I think they'd surely want to sweep those stops if it gets down there.

Management area for the Euro.

UPDATE

This should get the weekend started off on a good note...

http://www.zerohedge.com/news/2013-07-19/friday-fiction-or-fact-funny-drunk-ben-bernanke-speaks