Kickin' it off. It's going to get wild. This week is Armstrong's 'Big Bang' date, mentioned at least as early as 1989 in one of his conferences, he said. It's not a date for a market implosion, it's the peak date for government and sovereign debt. Catalonia voted today for independence, a binding vote. The last one was not binding. It was overwhelmingly for secession.

I can find no information on this vote anywhere right now, yet it's over and done. Nothing on ZeroHedge. I find this bizarre. Understand, if any EU country has a secession, it will, in my opinion, begin a waterfall breakup of the EU and the failing of the Euro currency. So, tanks will roll, it will be stopped. But, it may cause massive unrest and even a European war. Markets will move. Hence, this is not a trivial event today. Yet, nothing, no reporting anywhere. I'm... confused...

spy then and now - at the bull trap Friday, and showing measured move to lower //

Over 60 pips reaction off 60 area. But it looks exhausted now.

Originally posted by MarcinO

It made it to 1.1215 instead. Anyway, time for a serious move down?
I think 40 is more likely then 60 now. Or, in case of Jim's scenario, both of them will be only interim supports.

29.75 high, down almost 50 points, straight down, so far. I guess I'm pretty happy how that one played out? Smiling so hard my face is just about cracking? You betcha. Although this is not a day I'd be thinking too much about longs, this is a key spot. Just look at the SL on the 60-min. Wow.

Originally posted by jimkane

So, does it want the area just under 30?

Amazing strength off that 60. But, the Euro has to rise for this kind of selling, as we saw during the meltdown. Crazy, but it's the way it flows right now. It's the ultimate insult to me. I finally get my selling, and while I'm trying to feel happy, I have to accept the POS pig-f$#&er Euro going up.

P.S. Sorry for my French (for those that that expression is lost in translation, it means sorry for cursing)

Originally posted by MarcinO

Over 60 pips reaction off 60 area. But it looks exhausted now.

Originally posted by MarcinO

It made it to 1.1215 instead. Anyway, time for a serious move down?
I think 40 is more likely then 60 now. Or, in case of Jim's scenario, both of them will be only interim supports.

Anyway, watch the ES here, in case a small bounce develops. It doesn't seem likely, but it might.

It does look like it will grind down essentially forever, with no hope for even a small bounce. That's why I am so suspicious of this area here...

It's just so ready right here...

Just a bounce to 87.50-89.00 would be nice to keep this trend moving. But, that's also obvious, so it probably would be less or more, to mix it up a bit. That is, if it bounced at all, which I'm really wondering about...

Is 85 all it can muster? Really?

Lots of great posts this week, guys.
I'll be off the forum until Thursday unfortunately.