Starting it off.

If the sellers are still here en masse, this is the spot they'd come back in at, in my experience. 83.50 area here.

I would not be opposed to a 'Die,pig, die' here, but this is a very key area. As I always say, any more selling here with no correction would likely lead to a quick climax. Of course, in today's world, I always leave open the possibility of a meltdown/flash crash, which is why I like to stay with shorts in scenarios like this.

As an aside, no claims made, on the higher timeframe I've been inclined for awhile now to, let us say, having some puts.

Speaking of those puts, if one were building a position that would have happened on say the 23rd and 26th, for example.

Yes. The big question in my mind is whether this double .886 is "it". Or do they find a way to spurt it through with almost no one on board, up to 2135 - 2200. I see the elements in place for either way.

Originally posted by jimkane

So by 'for real', you mean a lot more than 30 points, right?

Originally posted by rat89

I'd love to see them act on that double .886 for real, but we have a couple of weeks of ecb, jobs report, the fed, and opex to make it really interesting....

Okay, there's the 'retest'.

One thing I do know, the market is priced for perfection for Dragh-Queen's announcement before the open tomorrow. He tends to be long on rhetoric and short on real action. So, there is the possibility of disappointment. No matter what he does I can't see it being more than the market has priced in. But, maybe the market thinks he'll disappoint, and if he doesn't, pop. I'm not really seeing that as high odds, though.

Originally posted by rat89

Yes. The big question in my mind is whether this double .886 is "it". Or do they find a way to spurt it through with almost no one on board, up to 2135 - 2200. I see the elements in place for either way.

Originally posted by jimkane

So by 'for real', you mean a lot more than 30 points, right?

Originally posted by rat89

I'd love to see them act on that double .886 for real, but we have a couple of weeks of ecb, jobs report, the fed, and opex to make it really interesting....

Immediate weakness off the retest attempted pop. Ruh-roh bulls.

Let's see if they wanted the full retest, or if the weakness persists on this next pop attempt.

Gotta love it, nothing but sellers. Even the smallest little bounce is sold into.

Not seeing the expected follow through on the scalp. Sometimes patience is needed. I'd like to see this moving more in here, though. There isn't time to sit through a shakeout, and one shouldn't be needed if they want to close it on the high tick of the day.