Kicking it off. I will try to post charts starting from tomorrow.

Another 12 or so points by the close and we can close up 50+ off the low there. But, up 40+ is still a monumental accomplishment for the day.

And oh, yes, this is an area here. I just don't think it will stop it when it is in 'juggernaut mode'.

Cable reacted 30 pips in just a few minutes.
35-40 may stop it.

To answer two questions, though. Yes, it 'should' at least check back a bit more in here. And yes, I'd actually prefer this be the 'retest' right here, and the bigger downtrend resumes.

Cable's pretty nuts. I like it. That old Brexit talk is really getting to it. I think it's a ploy to contribute to the scaremongering (even though all the multinationals love the lower value). The vote will be rigged, so no matter what people vote, no way they will leave (as much as I want them to).

Originally posted by MarcinO

Cable reacted 30 pips in just a few minutes.
35-40 may stop it.

Yes. 100 pips day is usual.

A lot says it could stop here, but I have a nice spot at 31.25, which, at the extreme, could extend as far as 35.50. So, somewhere in all this some pressure should build. If not, well, all hell could break loose.

Just for some 'context', that last little 1-min buyable dip in the ES is up 11.50 points so far (it should be done...). Holy-frickin'-cow. I remember 4.50 point days.

What I am curious to see is what happens on this little dip now. Does it just tank, or will it resume its inexorable rise up. This is going to be important, I think.

If this area is as important as I think it is, and as important as rat's charts show, then a lot of 'testing' my be the order of the day. We'll see. I wouldn't be disappointed, though, with some 'crushage' action.

yeah, they are funny