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.

On another note, that was a(nother) new all-time high for the Dow today.

I don't know how much this countertrend setup has to give. Not much, I suspect. But, there is the possibility they bring it in for better prices in the AM, then gun it up for the Fed announcement. Anyway, my areas are 88.75-89.50 and 85.25-86.75. If it keeps dropping, around 80.25-81.50 (with one key factor at 79ish), but I can't really see that unless some news comes out. I'll be keeping a close eye on this as things unfold, so expect a few comments later after I'm fully napped up.

So, it hits 89.00 and reacts, but the really cool thing is, it hit it dead on my timing factor. This is a different timing factor than what I refer to with ranges, this is where my lines form an * marks the spot (like X marks the spots, but with multiple lines converging), with the Fib grouping. And it went straight to it and started to bounce. That kind of thing never ceases to completely amaze me.

ES basis Dec set a contract high by two ticks, basis Sept, one tick shy of the all-time and contract high. SPY at new all-time highs. But I suspect this move might be a fade, at least for now. Probably not...

Nice charts, rat.

BTW, INDU and Trannies are smokin' the old all-time highs. They are the leaders right now.

Hey, I don't know how long this short will last, it may be done already for all I know, but there is still potential in there, so management mode deals with that. The 1-2-tick game with a chart signature was just too much to not take seriously.