I'll start with the Pound today, as Euro has been so choppy lately, that closing day on breakeven was a success.
1.5160-5230 is a wide area, derived from weekly time frame, so I believe we are close to a substantial reaction.

Manipulation drop in the Cable isn't over yet, I guess.
They want to drop it further down to 1.5235-40.

It reversed 10 pips higher than I expected. My next levels are: 1.5350, 1.5380 and 1.5420.

Originally posted by MarcinO

Manipulation drop in the Cable isn't over yet, I guess.
They want to drop it further down to 1.5235-40.

Hi rat, nice charts.

thanks Marcin.....they had more in them on the long side than I expected.....here's spy now:

1.5314 was most likely the end of correction in the Cable. We will see if the reaction is going to continue soon.

Thanks for posting, crew of two. Nice stuff. I've just lost my motivation to post lately...

So, is that it for the Euro, or is it making the move to the low 120's now? That area could be as high as 1.24, although I like a little lower better. Here's my best bitter, sarcastic scenario. There's a Grexit, and instead of the Euro imploding and all the derivatives triggering, and the German and French banks going immediately under (and major pension funds, etc.), as mathematics would mandate, the latest headline I read would come to pass: 'A Grexit would barely cause a blip on the recent European rally'. Really? From the trigger for Armageddon (which, mathematically is an absolute certainty, unless they do what they will surely do, which is change the rules (for example, simply not allow all the derivatives to trigger, which they have done in the past) to the rally will barely slow, all in one shot. So, we see a Grexit, the Euro jumps a thousand pips, and the DAX adds what 20%, 30%, even 40% in a few days/weeks? I can see it.

Key area here for the ES, so watch and see how it acts. I'd love it to tumble, but I just can't imagine they won't come in.

The crush in bonds is simply amazing. For you stock only traders, look at TLT. Also JNK, HYG, and MUB are feeling the pressure, too. It seems early for the implosion, as Armstrong thought there would be one more push up before that, but that would require, in my opinion, a big drop in stocks, and that sure looks unlikely, right?

Yeah, the ES was pretty weak most of the day, just rolling in the chop range. The TF was a nice, smooth trend. For years all I followed (closely) was the Russell. I preferred it substantially over the ES. Then it moved, and it was all over for it. I may revisit it.

Originally posted by rat89

you have to love how iwm was so peppy today and spy just lay there like a dead fish on a shag rug