The Pound may need one more move up to 1.5170-80 before a larger move down.


After that a further move up cannot be excluded to 1.5270 - 1.53.

Yes, the ES and currencies.

Originally posted by MarcinO

BTW. Liquidity has shifted to March contracts.

Nice charts, rat. That IWM is really calling at 108ish, isn't it?

So, how are those puts looking... The Jan ATM put from back when I mentioned the accumulation is almost a doubler now. If one had nailed it and not started early and taken a little heat it would, likely, be more than a doubler.

Junk is really melting down. This is usually a leading indicator of the market, and of trouble. You can look at JNK and HYG to see this. This is, and has been, a big warning sign and is being ignored (as usual) by most. These are the very same knuckleheads they will be parading on bubblevision after the meltdown saying 'There is no way we could have seen this coming!'. Yeah, uh-huh.

35.35 on crude. I want a bit more (and may see a lot more), but for all intents and purposes, I got what I dreamed about so long ago. No matter what happens from here, I got my wish on this one.

So, will this grinding long in here pay off?

Or will it be a bearish ABCD, and more selling? I think the long (very short-term) was worth a shot.

yes it is....I've been thinking that for several days. Spy however has an abcd at .382 at the low today. Always interesting....

Originally posted by jimkane

Nice charts, rat. That IWM is really calling at 108ish, isn't it?

The ABCD is a nice, tight spot, and wow does it see it. But I think after this sharp shake here there is a good chance it rises to take out that obvious downsloping TL there a bit.