a cheery view of spx to start it off:

Thanks for starting it off, rat.

Yeah, I hope that plays out, rat. I am really concerned that the Fed has called a special 'emergency' meeting for tomorrow. Some speculate they are going to raise rates. Others speculate they are going to stop paying on reserves. That would change everything. I can't imagine why they would call such a meeting, but it has me really nervous.

Otherwise, this is a holiday week, and I'm kinda down that we will have less trading time. The futures still trade a lot of hours, and that trading action is usually really good, but it's not the same as when everything is open. It's the consolation prize, though, I guess.

We are all looking at the same resistance area.
The chances that it will send the ES down to a nice level around 1955 are very low, but one should be always ready.


More likely levels are 2072 and 52.

Cable is right at a nice area now, but it looks as if they want to hit the previous low and send it down to 1.5140 zone.

Yes, we all are. My concern is that everyone, not just us, is watching this. Let the games begin. And an 'emergency' Fed meeting tomorrow...

Originally posted by MarcinO

We are all looking at the same resistance area.
The chances that it will send the ES down to a nice level around 1955 are very low, but one should be always ready.

New low for the move on the Euro. Less than a hundred pips and it takes out the low for the entire move down, and threatens that TL going back to the 1980's* that I posted awhile back. I can't wait until that gives way so we can see, in ever glorious succession, below par, then 80's, then 65, then gone. That's my dream, anyway.


* The Euro was 'back calculated' to create the old pre-1999 (I have futures data only back to 2001) data, of course.

The dollar index cracks 100 for the first time in awhile. Let's see if it can get some real traction and take out that key swing high just over 102. Then as the Euro breaks down and takes out that over 30 year TL, the DX can really start doing something. That's what I'm hoping. King Dollar.

Just when I thought I could get to bed, the ES really wakes up and starts to dump. I am watching this 83.25 low, since it's a key area. I'm so tired, but look at this action off the big overhead area Marcin was nice enough to post for us. Those naps feel like a distant memory right now. If I ever give up the market the first thing I'm going to do is stop splitting my sleep up in pieces...

Oh, and silver traded a 13 handle!

wow. amazing.

Originally posted by jimkane


Anyway, the anecdote: MyPivots, a monstrously famous and popular website, has had zero posts outside the KT private area for the entire month on November, a month I consider the trading to be 'as good as it gets', and 'as much as I could ever dare ask for' as far as trading action. What does that say about the depth of the market action, and what is going to happen when 'they', for whatever reason, turn the machines off, or can't turn them on for some reason? We all know the answer to that one...