The Euro is pretty likely going to hit 1.1320 tomorrow at London open. This level might be not enough to stop it, and in that case 1.1240-50 should be next.

That would line up with my scenario, given a negative correlation between the Euro and indices. At least in a short run.

Originally posted by rat89

the indexes have a crashy look to them here - yesterday/ today. I would be nothing but short, and wait for it. If the setup on the dailies and 60 minute charts gets going, there will be no entry.

Originally posted by jimkane

This does look downright scary in here.

it's tantalizing, because the setup is such that one of these marginal new highs may be the last time we see spx at this price for many many months.

Originally posted by MarcinO

That would line up with my scenario, given a negative correlation between the Euro and indices. At least in a short run.

Originally posted by rat89

the indexes have a crashy look to them here - yesterday/ today. I would be nothing but short, and wait for it. If the setup on the dailies and 60 minute charts gets going, there will be no entry.

Originally posted by jimkane

This does look downright scary in here.

Big burst up in the ES. Up 15.50 off the low there by my data, one tick shy of the high for the move set this AM. I just can't see any way for this but up. I hope you are right, rat, but I just can't see it the way it is acting. It's going to take a bad news event, but I will say there are plenty of possibilities (like Merkel stepping down) just waiting to happen.

What I also find rather curious is this big run up in the ES and crude, PM's, and the Euro basically just stayed asleep.

Boy, that high volume burst just smashed the stops and hit the new high for the entire move by quite a margin. 18.50 off the low at the high there. That's pretty impressive.

There is just so much stuff up in here (look at the SL!), although the price action looks like nothing but up to me, I can really see rat's case playing out. This could dump. And like he said, the chances to get in might get limited very quickly. I'm actually pretty excited about all this potential upcoming action.

Look at the timing. Low at 11 followed by low between 2:30 and 3, again.
So far, everything according to the plan.

spx backtest at .886. Trigger for the reversal or just a trap?

.382 iwm and .786 spy marked in yellow. Green and red lines are first hour range:

I'd love to hear move about that. That thing is trading say 27 now, but at its peak was 489,600. I'd say it's down a little. What is it leveraged to, like 100 to 1, when you convert from VIX futures to SPX?

Originally posted by rat89

I'm experimenting with using the spx/ spy triggers to trade uvxy, based on work that roofer did a while back. The damn thing will knock your socks off if you're wrong. It's an animal.