November 22, 2010

Morning Post, SPX, S&P 500, e-mini

POMO today and tomorrow then none Wed and Fri. IRE may be failing. I can't tell, nor can anyone else, but the markets are not happy. After spiking to over +7 the minis now sit -4. Interesting to say the least.

The charts sure saw it coming. The divergences on the 30m, although not completely set, are there thanks to that late pop Friday. Minis back at 92 support. Not sure what volume will have in store for us today, but being a holiday week I would expect the bots to have more dominance than normal.

Things look pretty sick right now. Minis at or near a support diagonal. If that goes then what I am seeing as a B wave may be completed. I have some issues with that during a holiday week, but the set up looks good. the other possibility is that we're in a 2 of some sort with a breakout to come next week.

HOLIDAY WEEK! WoooHoooo! Shanky will be there today and tomorrow. Wednesday I will be here in the AM and Friday for part of the day. I expect to at least have a post each day at a minimum. Time to get happy and enjoy the season. Please remember the "reason for the season" as we roll thru it.

GL!
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