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It looks pretty nice on the globex chart. The left side of neck was broken overnight (1161) which makes it even more bearish to me because ES made a lower low. I am not going to trade shorts yet because daily chart is still very bullish, however we need a pullback sooner or later so I...

There is a nice Head & Shoulder in ES with the left shoulder top at 1170.50. A break above that level would like push ES to attack yesterday's HOD. As long as ES stays below that level, bears are in control of the game.

Tide Your call on the vacuum-up scenario must be recorded as one of the best ever.

Looks like the over 10yr old EURUSD/SPX correlation has been taking a pause. What if the correlation has ended? Markets will keep going higher and EURUSD will keep going lower.

I have a friend who used to be the FX head at one of the biggest European hedge funds. His boss was very bullish on financials throughout 2008 and kept buying and adding to his longs. In fall 2008, the financial collapse forced him to cover his positions. All is left of that hedge fund...

Who would have thought that only 1 year after the biggest collapse in financial history the DOW would be trading near 11K? There will be other tops and bottoms, like it's been for over 100 years. It's the nature of the market and, as a trader, I am only concerned to trade the right side...

Guys, just take a look at any chart. The financial crisis is history for the markets. If major issues were still around the corner, the markets would be trading near 2008 lows. Just think about it. I am astonished to see how many traders are still expecting a big drop. Bears had their...

I can't believe ES is taking so long to test 1158. Bears are a bunch of pussies.

ES breaking down a little. 1158 should be coming next. This is the last chance for bulls to defend the gap.

Thank God I quit trading against the main trend a long time ago. ES is doing everything possible to design perfect short setups which most of the times turn into big short squeezes. I will likely call it a day soon if nothing happens shortly after 1030am.

Very ugly PA so far today. We should have a breakout soon after 1030am. This range is ridiculously narrow.

I am a little concerned about ES unwilling to test 1158. I expected it right off the open, but it's still trying to push upwards. If ES can build enough power for a little longer above 1158, it may even break it at one point. If new highs are made, forget about it.

Well, bulls have had the stronger hand for over a year so far. Bears had a few days here and there but this uptrend is still very strong and intact. Only God knows how long it'll last.

Morning all. ES must hold 1158, or else gap fill is very likely.

It's pretty amazing to see such low volatility for most part of the day EVERYDAY. Is there a plan in the Obama Admin that aims at getting rid of daytrading as a profession?

Nice drop quickly bought by bulls. Uptrend still very intact.

I am taking a break soon. ES trading at HUGE resistance, I can't get long at such high levels. Since we've been getting zero pullbacks, all I am allowed to do is watch ES either break resistance or be rejected. No shorts allowed at this time as I consider this uptrend still very strong.

I have to agree here. This is the last call for bears to defend their territory.

Reading how many perma-bears are still around and still placing their short bets, I wouldn't be surprised to see a massive short squeeze soon. ES within striking distance from 1150, which at this point is acting like a magnete. Hell will break loose once we start trading around that area...

NQ on pace to have his 10th consecutive up day. ES his 8th. It may be a sucker rally, but it looks very strong.