I'll start with Friday's HOD area indicated by Jim.



The first support areas for me are 53.75 and much stronger 49-50.

Aussie. This shallow ABCD has a nice timing factor close to the European open.

Thanks for starting this off, Marcin. Your charts helps explain what I was going to say. I want to short the living daylights out of this area. I can't recall wanting to short something as bad as I want to short this. It is at a super-key area, in what might be a bigger correction. Now, that being said, the area this bounced off of, the area I gave about a week in advance, that is a monster area, and I'm not forgetting that. The short idea in here is based on the concept that either that area will fail and a bigger correction (or even bear market) is under way, or the strength of this area will at least produce a nice checkback.

Now, could this just blast up? Absolutely. I will be watching the open, looking at the way it behaves. It may just gap and go, blasting right off. If so, the premise is invalidated, no harm, no foul. It may open a little down and then blast up and over, but that may just be a trap. The area comes from a 240-min/daily, so a little tick over is fine. I would look at this as a great placement to initiate a short, a 'better price' gift. It may just open weak, and if no buying comes in, that would trigger me, with a stop over the 'blast it up and over a little' spot.

Now, if this triggers I'd be looking at the KZ for the first main area to watch closely. I want to see how much it bounces, if at all, off the first real key area. That will set the management tone for me. I have no idea if this does start down if it only wants the KZ, and then off to the races on the upside, or if it wants a deep 'retest' of the lows, or it the downtrend will fully resume. I don't need to know to trade, fortunately, in my opinion. I just need to have the areas and a management plan based on the odds. Today is setting up to be one of those days, and I haven't been this excited about a Sunday/Monday/Tuesday sequence in as long as I can remember. Last week was incredible, so I can't expect as good of action this week, but you never know...

Okay, it opens and pops. So far, so good. I'll watch to see when it seems to 'tire' and then see what I think. It may have a little more, it may already be there. Watch closely.

I'm hoping it sets a nominal new high, that would be great I think.

I might get my wish any time now...

That could be it. Just watching...

Tied with the previous high. I'd love to see a nominal new high. We can all laugh if my read is completely 100% dead wrong, but I've never had this strong of a desire to short something as heavily as possible that I can recall. Understand, I am just stating my feelings here, and no one should do anything based on my posts, at all, now or ever. This is an educational forum, there are no 'calls' in here, no picks.

Die, pig, die!

Anyway, I can't see any other position here but shorter than Tom Thumb.

Okay, the ES is looking strong. Time for the big pop up, or just a fake to get the last suckers? We'll see. Timing-wise it can stay in this range for awhile yet, so I'm anxious to see what the European open brings.

ha ha ha ha ha! Thanks jim ;)