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.

Interesting.

http://www.zerohedge.com/news/2015-12-07/one-chart-proving-how-fed-singlehandedly-doubled-stock-market-1997

Anyway, crude did take out that low for the move today. T. Boone Pickens said, I think it was last week or the week before, crude will not trade below $40 again. Hmmmm.

My area is 33-34, center of area. There is also the idea that it could grind down for awhile and the timing would be nice to see a 29 handle, just so they can 'test' that. I wouldn't expect more than 29.99 or 29.98 or some such number if this happens, although the entire area goes down to say 28.60. All I want is what I've wanted all this time, to see that lower 30's area that I've talked about for as long as I can remember. It's all I ask. It's just a few bucks away now...

Understand, too, that 33.20 was the bubble sell-off low in early '09. No way they don't want to play with that, in my opinion. No way.

Pound just above monster area around 1.4975.

Pound at 75. Now we will see.

They broke and bactested this level, so further drop is likely.

spy 15

price gapped and ran down to 205.78, where:
202.18 – 211.00 = .618 at 205.55
204.75 – 209.97 = .786 at 205.87

Note the sharp bounce now up to 208.04, where:
211.16 – 202.18 = .618 at 208.04
211.00 – 204.75 = .50 at 207.88
209.97 – 205.78 = .50 at 207.88
208.51 – 205.78 = .786 at 207.93 and .886 at 208.20

Nice stuff, crew.

I'm looking long side off this 'retest' area here.

Yeah, that LOD was just about right on the obvious TL for the ES, too.