kbit 

This may be one of those times that the ES acts like a retard and has to hit 1352 like 4 times before it figures out that it's time to drop. Our job is to be patient and wait for the ES to figure it out. I just hope we can get in at a decent spot....don't want to see those whores drop these things overnight and we sit here with our thumbs up our butts waiting for a pull back that never comes..... Yeah, I feel better now that I vented a little. I still can't really nail down any particular spots here...it's just to goofy right now....if I figure something out I'll post it....in the mean time just stick with the areas around the highs and lows.... You guys I hope are getting trades...I am but, just hoping to narrow down an entry for the mother of all shorts (which might not happen but...)

We've hit 1352 three times by my count as of this writing...

Edit: actually would be 4 times if you count the time it got up to 51.5...

kbit 

Yes I exaggerated, it wouldn't be the mother of all shorts.... I would be looking for somewhere in the 790 area really. We've kind of stalled out here at the highs(more so on TF than ES) and either they are absorbing whatever supply there is and will run up to 850 and beyond as you think(guessing) or it will pullback and then take a run for new highs. I'm in the we need a pullback camp, and I know you've been around long enough to see the stuff I'm looking at that would support my thoughts on this...I don't want to go through the list...just go back through the thread and you'll see what I've been looking at. All that being said, I do have a post a few weeks back that said to go long in the low 750s and you would still be long at this point .... Thanks for posting it's been getting kind of boring around here....look at the kind of stuff I have to post to get a response

there's something we have in common. I like to exaggerate too.

actually for the market it would be healthier to have some pullbacks on the way. I wouldn't like to see a move straight up to 850 and beyond.

good job on your postings.

Wondering why the market just viagra'ed up to green on absolutely nothing? Here is the news from Reuters, with key words underlined:

Greek conservative party leader Antonis Samaras is expected to deliver a letter of commitment to the country's international lenders on Wednesday, a government source said on Tuesday.

"Samaras' letter of commitment is expected to be handed in tomorrow morning," the government official told Reuters on condition of anonymity.

A senior official at the conservative New Democracy party confirmed that Samaras intended to sign the letter. There was no official comment from the party.

So... let's get this straight: Samaras, the guy who has [B][COLOR=#0000ff]promised will he reneg [/COLOR][/B]on the European deal as soon as he becomes PM, is "expected" to agree to the deal he voted for on Sunday..."according to a Grek government source." And who will he supposedly delivery this letter to?

The cancelled European meeting? Or to Juncker who said Greece needs to comply with the terms of the first bailout, forget the second one. The same Juncker who said he is uncomfortable with Samaras lack of commitment?
And the end result is a 25 pip move in the EURUSD which undoes a 75 drop in the DJIA?

Market [AUTOLINK]Spike[/AUTOLINK] Driven By Latest Bout Of Idiocy Out Of Greece | ZeroHedge

Just watching the ES pop the top...still won't give up....
Notice where the TF is however....826 ish, which is below 832 for those that can't see to good...in other words still below it's high.

My point is that there is a possibility that they still may come down and the ES just wanted to get the stops first, though I have to acknowledge the ever increasing possiblity that these scumbags will just keep going up.

At this point, being that they have no apparent desire to retrace I will continue to just trade back and forth on the TF unless it breaks it's high.....know what I mean ....
.

I was just thinking I maybe should have posted this one...almost seems more appropriate....
.

It's a little to soon to say what will happen here exactly but I wiil say we are currently posistioned to finally make it to 802.5 (baring any more Greek news)

The question is will the ES finally relent and let everything drop...(yeah, I know the NQ is a trouble maker too but...)

The ES only dropped 10 points from the high that was taken out last night so we have to see if they try to run it up again from here.

Anyway we have to get past the 810 area first...
I'll post some spots later today...need more time to examine things.

kbit 

It's a little to soon to say what will happen here exactly but I wiil say we are currently posistioned to finally make it to 802.5 (baring any more Greek news) The question is will the ES finally relent and let everything drop...(yeah, I know the NQ is a trouble maker too but...) The ES only dropped 10 points from the high that was taken out last night so we have to see if they try to run it up again from here. Anyway we have to get past the 810 area first... I'll post some spots later today...need more time to examine things.

I don't have the NQ up but the dow dropped out of its long channel already, I am pretty sure nasdaq did too, really all that is left is the ES.

Mike

Just last night in reviewing a few motley looking equity index and sector ETF charts along with the VIX, there was one chart that stood out as more motley than the rest and that was none other than the Nasdaq Composite.


One to keep a real eye on is shown in the Nasdaq Composite below and a pattern that is unidentifiable as a topping pattern of a particular sort but is identifiable as an Island that may reverse down to close that gap at 868 and something that will qualify it as an Island Reversal to the downside and one that may come as AAPL’s own Mountain Island collapses down at some point in the possibly not-so-distant future.


What makes this possibly worth thinking about now is the fact that AAPL is showing a Church Spire Top after the recent parabolic move higher and something that was seen in silver last spring along with today’s later day decline.

This Church Spire Top confirms at $496.89 for a target of about $467 and a level above a small unclosed gap at $477 that will close soon while the real gap to be reversed – that possible Mountain Island Reversal – is at about $431 for a possible decline of about 13% and one that could come quickly as in within weeks.

One reason to think AAPL’s Mountain Island Reversal will occur would be provided if the Church Spire Top does fulfill down to its $467 target and something that could happen very quickly as in within days because its potential fulfillment would serve to create a Rounding Top pattern of sorts with a minimum target of about $408.

In short, AAPL may finally be ripe enough to fall from its tree and something that will pressure the S&P but even more so the Nasdaq Composite with its own ugly and unclosed gap showing and something that has been detailed here a good bit in recent days as a reason to believe that the Nasdaq Composite will be unsuccessful in taking out its long-term resistance on this particular pass up but rather will fall back into its sideways trend.

Should this prove true, it will be a matter of degree around that fall into the sideways trend with 2750 looking like a strong possibility with there being some chance that the Nasdaq Composite could try to close a gap at 2617 even on this particular sideways swipe down that will be proven if this index does an Island Reversal to close its gap at 868.

Such a potential Island Reversal seems likely in just looking at the chart above with a faster fulfillment increasing the odds that the Nasdaq Composite will find sideways again as happened for the Russell 2000 already with the possibility of an especially fast reversal of that gap making it seem that this tech heavy index could find its way well into the top half of that Sideways Trend Channel rather soon.

And it would be such a potential move by the Nasdaq Composite back into its vicious sideways trend that could come on a Church Spire Top in AAPL.

Silvester17 

there's something we have in common. I like to exaggerate too. actually for the market it would be healthier to have some pullbacks on the way. I wouldn't like to see a move straight up to 850 and beyond. good job on your postings.

that's what I call a healthy pullback. now we can resume course to 1600

Silvester17 

that's what I call a healthy pullback. now we can resume course to 1600

I was/am hoping for a better pullback than this but might not get it.....

Since about noon time the ES was floating up on fumes according to my CD but as we all know that doesn't mean it won't keep going.
About the only thing left is that the TF stays under 832 and the ES doesn't make it much higher (maybe even a double top).

It really doesn't matter to much anyway....I've been trading the range anyway as you probably have too.