Looking like a drop might happen soon...I think I would look for some kind of bounce off the 726 area and gauge reaction there. At this point I'm seeing around the 719 area as a point that has to hold to keep us up in this area....if it goes below it could really drop good. It could still set new highs but just have to see how it holds up in the area we are now....a dip to 726ish might shake out a few longs and be enough for a run to new highs but just have to see how it plays out...there is also a possibility that the low on friday could hold but it's not likely in my view at this point....it's too easy if you know what I mean.

The buoyancy of this market is amazing. S&P tried to drill a hole in the boat but they came to the rescue and half plugged it up. I really am thinking that the Euro and the indicies won't really crash at all.....I saw in a post by Mike saying that if you see the market trying to go down and can't it will inevitably have to go up....the funny part was that I was going to post the same thought in that thread but noticed he beat me to it.
All that being said I would still like to see a drop at some point to the 715 area for a long..bigger picture wise.
In the mean time is anybodys guess as to whether it chops around or whatever....I haven"t looked for potential levels to look at but will try to post some later



On the Ichimoku front we are potentially getting close to having green lights to blast out of here, it's still a bit of a waiting game though so.....

Just a few spots to watch if they get visited ....735 and lower around 728 on the upside 765 should give a reaction.
There are a few other spots but these should be a little more significant.

I'm still expecting it to trade sideways and revert back to KS before moving up (if santa rally holds true).
Points of interest are the relative flat SSA and SSB. I've seen price revert back even with
TS/KS bull crossing when price has deviated more than 1 sd away. We'll see...

[img]https://nexusfi.com/v/q96vva.gif[/img]

Intraday, I'm neutral as price is back to development after today's move out
of the standard auction for the breakout play.
[img]https://nexusfi.com/v/skc7zz.gif[/img]

Wow, what boring crap we have to deal with today. Looks like a slow motion ping-pong match.
I guess we might have to wait til thursday when unemployment claims and the ECB meeting are sure to rock the boat.
As it stands now short term anyway the TF is trying to work its way up to 747.8 .......I did get a couple trades but they where educated guesses because no decent PA has presented itself to me.....just a boring day

There's 747.8...you MP guys out there were probably in on that...IB low to high deal.
would like to see a drop to 746.5 (and hold of course) though ideally for run to 51.5 or more...we'll see

just looking again now that I'm awake again....46.5 is probably a bit optimistic but I do see a good chance of a pullback to 47.8 happening....we'll see

Oh well, no pullback...hit 51.5

Usually quite slow this time of year. Time to go read some good books

Mike

On the emini-watch.com website, Barry Taylor explains how changes in the Average Trade Size often occur near reversal points. He refers to bars with unusually large values of Average Trade Size as Professional bars, and those with unusually small values of Average Trade Size as Amateur bars. The theory is that larger average trade sizes indicate activity by bigger and more influential, i.e. more "Professional" traders.

I coded a GOM based trade size tracker to see for myself. The results were interesting, to say the least.