I'll kick it off.

Doing a quick check on that long then back to bed. Up over 25 off the 4 PT, and 21.50 right now off the ABCD 'W2'. Not bad. This movement is just insane, in smooth trends off easy to find areas. No claims, but it's just unreal, unimaginable. Anyway, I am really curious to see if this rally, which may go as high as the mid-40's, or even the 70's-80's area, will get sold. There are some indications the 'correction' may be over and up we go, so I'm not going to ignore that, but my assumption is the higher timeframe trend is down, with typical vicious rallies, just as we saw in the last bear. Okay, back to bed. That is, if I can fall back asleep now that I see how wonderfully this has played out so far...

Oh, and yes, this is a key area here and it could (but I suspect not likely) be done in here.

But, and then I'm going back to bed, the methodology would have the stops tightened up here and ready to start kicking in if it comes in, and trailing in case it doesn't.

As a funny aside, it this hits the mid-40's tomorrow, it would be up about 130 points in just over one day. I can't see it, at least not that fast, but it's not totally off the table. I surely wouldn't put it past them.

Ready to drop?

60 is my 'target'

Anyway, the ES only made it up 76.50 low to high by my data in just about a day. Not the 130 I thought they might do, but not bad. And I can't complain about two 20+ point moves in one session. Wow.

It would be nice if we could get into the close with another 20+ point move, making back that drop. Three 20+ point moves in one session, well, that would finish off three weeks of the most insane, best trading I can recall in so long action. Even if we 'only' get this 15.50 point move, it's still the end to another insane week. I just thought it would be a kick if we did three 20+ers in one day.

Back to price flow. It seems done. But, programs are funny things, and who knows if they will blast it up in the last minutes or not. Technically, I'd say it's done for today, and could even sell a bit more, but it 'sees' the price flow here, so watch and see how it handles it. If a program is going to come in, this is the most likely spot.

What was the main technical factor that made me think it was probably done for today? The 3D on the 1-min.

Nah... And even if it did happen, the ES down 400 points from here, whoop-de-do. It's still up like 125% off the lows. Wow, and that's after an '87 style crash?





Source: http://www.zerohedge.com/news/2014-10-17/happy-27th-anniversary-black-monday