I'll start it off. The big event this week is the Scottish independence vote. A yes vote (which I wish for more than I wish for S&P at 400, and you know how I live for that) would cause a 'wee bit' of volatility. But, alas, I think the odds of that are essentially zero. Why? 'They' don't want it, so the election, like ours with Bush/Gore, will simply be rigged. Now Catalonia, that's a different story. I think they will, indeed, split, but the markets will not react to that at all (or maybe go up a bit just to 'prove' it's nothing to worry about). I suggest being careful around that Scottish voting results time.

What was really curious about today was momo stocks. For example, look at FB, TWTR, LNKD, AMZN, NFLX, TSLA, etc. Ouch.

Back to the usual in here: rat, Marcin, Al, and 'the one guy that follows along'. Oh, well. At least we have a good-sized handful checking in like 2-3 times a week, too. Just not today.

Here's a quick little factoid. MCD sales are about the worst in a decade. Where's the stock? Just off all-time highs. How about the stock performance in the last decade? Pretty much a smooth uptrend on the weekly chart, up about 1,000%. Makes sense.

Just doing a quick check here. This thing looks weak as all get out. 'They' surely see this, and the cliff it is sitting on right now. If 'they' don't come in, like they usually do, this thing could get roasted over an open flame.

Nice charts, rat.

So, 'they' did the usual, and came in just when it would have gotten toasted. Back to full 'risk on' behavior. 'They' brought it down into the open for better prices, violated the 15-min TL into a TD 'W2" ABCD, then popped it on the open to get it over yesterday's high. They got that, and pulled it back in, in a beautiful ABCD at a KZ. This is when it gets interesting. That 'tests' the area three times and triggers (look on the 1-min, or even a 13-tick chart), and what is happening? China is announcing some 'targeted' QE.

The market explodes, right to a key area, taking out my first level I posted awhile back, for a 24.25 point pop low to high. Not bad. My recent mentor students will see a Fib-related technique showing that high to the tick, and another technique within a tick. Amazing stuff, the stuff we will look back at down the road and wish we could have back some day. This is 'as good as it gets'.

Sorry all I'm doing is a market recap lately. I should have more energy once the winter rains hit here and this crazy house project outside winds down for the season. I've got all I can do to concentrate for myself during the RTH.

Originally posted by jimkane

...This thing looks weak as all get out. 'They' surely see this, and the cliff it is sitting on right now. If 'they' don't come in, like they usually do, this thing could get roasted over an open flame.

BTW, I mentioned I couldn't 'see' the upside, but rat made the read for it, and it came. That doesn't mean I wouldn't be looking at the long side with all of what I said above coming together, only that I just didn't have that 'instinct' that it was coming. Like I said, it's going to be a big news week, with big pops possible.