Kicking' it off. Going to be another exciting week of the same old, same old, I think. Let's see if that late weakness turns into a big drop, or if it does what I think is the highest probability which is setting the new all-time high. Remember, though, this is a monster area with a key backtest on the daily/weekly SPX.

And it failed. 40 pips off the area shown above.

I'm not sure, but the ES seems to need a deep test of resistance area, up to 92-93.

And the Euro continues to move up. 1.10-1.1015 next, I hope.

128.19 - 106.99 = .486 at 117.29 and .50 at 117.59
118.55 - 106.99 = .886 at 117.23
116.30 - 112.66 = 1.27 at 117.28
116.30 - 113.10 = 1.27 at 117.16
116.59 - 114.51 = 1.27 at 117.15

anatomy of the long trade in iwm from Tuesday afternoon to yesterday close. This is a case where the bear trap long entry is at a confluence of fibs that allows for a tight stop and a couple of targets. The setup says that price will return to the previous high. This is a situation where a reversal play combines with a continuation play. 1st chart is the setup. 2nd chart adds bull set anchored at entry. 3rd chart shows price at first target at median line. 4th chart shows push into lower end of second exit area, after a pullback and spring. 5th chart is a closer view.

Nice stuff, crew.

ES should be heading to the new all-time high, or at least a new high for the move, but it isn't. That, itself, is a clue. It could roll hard from here if they don't get busy on it. It's in a real danger zone right now. Watch closely to see how they act.

Okay, the big dump is happening so far. But I wouldn't count on it doing much more from here. It may, and that would be sweet, but these moves tend to be 'traps', and look super-weak, but then stop or snap reverse hard. So, somewhere in here around 77.50-78.50 things might change. Let's see.

I still expect 'them' to come in, but this is looking very, very good for dumping possibilities. 'They' can see this, so I think it will trigger the machines (I think the machines absolutely 'know' what weakness/vulnerable areas look like). But if not, swooooooooooooooooooooooooosh is coming, in my opinion.

Obvious upsloping TL here, so watch for games.

PCLN not only hit another new all-time high today, it is pushing up on 1,500 a share. You read that right. Until this nonsense stops, the 'bull' isn't done, in my opinion.