My favorite scenario for the Euro is a drop to 1.1040 and then continuation to 1.1240-70.

Originally posted by jimkane

Just look at the first chart and the explanation of what it is. Crazy.

http://www.zerohedge.com/news/2015-08-18/sps-13th-trip-thru-2100-feb-13th-call-it-monetary-rigor-mortis-bull-dead

What a great article...

M's area. Euro barely stopped at mine overnight and still looks strong, but after almost 300 pips advance without a correction it may need one.

1.1180 looks great, but rather unlikely today.

should retrace here a bit also due to that TL but I think it wants higher. next area circa 1420 (?)

I love this, haha
http://www.cnbc.com/2015/08/21/relax-were-about-to-hit-the-bottom-in-stocks-jeffrey-saut.html

+1

Originally posted by mreiserer

I love this, haha
http://www.cnbc.com/2015/08/21/relax-were-about-to-hit-the-bottom-in-stocks-jeffrey-saut.html

spx daily and 60 – we are bound to hear plenty of talk about how it’s time to sell, but it’s clear from this view that the last opportunity was at the RT to .618 on Wednesday afternoon just before price rolled over. I’m agnostic on exactly when this turns up and how far it goes at the moment; one of the key areas for a turn got hit already this morning, though a bounce that fails could certainly take it down to 1986 – 1954 sometime next week along the lower line. As of now, vix and spx are both outside their bb’s, so we have a potential for a turn any time. Yesterday was a classic oe drive to extremes, where price just has a place it has to get to, and in the process sets up several fake out short term bull setups that quickly get invalidated. In oe week, it's very important to get the direction right, since the setups are so perfect, and I had it wrong in that I expected a drive into a high/ retest that would fail after oe. That doesn't mean you give up or stop trading. Sometimes you get it right, sometimes you're off. Trading is a game, and the market forces play to win, not be your friend.

There is one thing I cannot grasp wile watching these guys on TV, no matter how hard I try. Why are they always so cocky, as if the markets were deterministic?

Originally posted by rat89

+1

Originally posted by mreiserer

I love this, haha
http://www.cnbc.com/2015/08/21/relax-were-about-to-hit-the-bottom-in-stocks-jeffrey-saut.html

Because they have their entire lives invested in a one way street

Originally posted by MarcinO

There is one thing I cannot grasp wile watching these guys on TV, no matter how hard I try. Why are they always so cocky, as if the markets were deterministic?

Originally posted by rat89

+1

Originally posted by mreiserer

I love this, haha
http://www.cnbc.com/2015/08/21/relax-were-about-to-hit-the-bottom-in-stocks-jeffrey-saut.html