Starting it off.

Looks like I missed ES reversal level by two points again...
What makes me happy, though is the fact that the Euro is 180 down from yesterday's low and the Aussie has made 150 pips so far.
The Euro was extraordinary easy to manage - almost no significant pullback.
The Aussie had one significant correction, but if someone is expecting .8590 'target', size of this correction shouldn't be surprising ar all.

Originally posted by MarcinO

Euro and Aussie look like in a final tiny push to the PTAs now.

Yeah, Marcin, you're banging those currencies quite nicely.

Another 'easy' read. I can't believe it, this week had 5 out of 5 days with lots of price movement right off areas, with smooth, easy to manage trends. I can't recall the last time that happened. What a week.

Originally posted by jimkane

Range high now taken out. I can't see this turning around, so I think the HOD is next. I have this one pegged for a big jump from here. But, all one can do is form a premise, manage accordingly, and let it do what it does.

That sell into the cash close, that's quite curious.

That's so wild, but typical. They smoke it up hard, all panic-buying-like, then crush it down to new lows for that little move down. I know, Friday close and all... No matter how long I do this, though, I'll never cease to shake my head at that kind of stuff.

This is one of the most interesting, and I suspect valuable, things I have seen. I have a former student who is trading spreads now, and this type of convergence trade might really be highly tradeable. I'm trying to find out how I can trade it. Anyway, I knew this week was really different, and this set up over and over. Crazy stuff going on out there...

http://www.zerohedge.com/news/2014-10-03/fool-me-once-shame-you-fool-me-4-times-week-shame-me

BTW, the day ended right at 'price flow'. I really wonder what is going to happen from here. Check back and then up and over? Roll down as the 'bear' continues on some 'news'? Range trade from here to the low for awhile, then blast up? All I can say is every 'analyst' on the idiot box is wildly bullish, as usual.

I know we in here are mostly very short-term traders that trade off the chart formations, but being ready for trend shifts is still important. This chart shows something that just baffles me to no extent. How can anyone (like fund managers, especially pension fund managers) look at a chart like this, and put people's new retirement contributions into stocks? It's so insane I just can't even comprehend thinking about it, no less actually doing it.



Source: http://streettalklive.com

I'm not the only one who sees a change, and says it is not off the table we are already in 'the bear'. Maybe not, but we might be.

http://slopeofhope.com/2014/10/a-gift-from-the-gods.html

The generals are leading, and the troops aren't following. This, usually, is a very bad thing.

http://www.zerohedge.com/news/2014-10-03/market-breadth-has-collapsed-around-world