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Not seeing delta confirming any of these bounces so far, even though we are way oversold. This tells me a close at lows is still possible and to book profits when they come and not expect a huge rally today. at least that is what we are seeing now, it could change. But be careful, that 50 dma is...

OEX more calls than puts traded Wednesday for the first time since December (total open interest still leaning short, but the gap is narrowing). So-called smart money is betting on more upside: http://www.cboe.com/data/mktstat3.aspx#OEX

You can also just look at a plain volume bar, volume spikes at extremes are trend ending 90% of the time, especially not long before London opens. I'm not saying this trend is over, just on an overnight trade it was.

-6490 sell side on that push to close the gap and run the stops (20:18 pacific).

Any hit above 250/300 is extreme, but as we saw in 2010, it can go on for a while. But the problem for bears is that we hit extreme levels of pessimism a couple of weeks ago in the options market and that might not yet be completely eradicated, so it does not take much to create mega squeezes. I...

ISE equity hits 400, that's 4 long calls for every long put. http://www.ise.com/WebForm/viewPage.aspx?categoryId=126&header3=true&menu0=true&link1=true

Targeting ES 1325 area on the Portugal news.

I'm not suggesting the H&S with NQ will play out, just that it's an option.

Or:

New moon tomorrow. Previous new moons: May 3rd, June 1st. Hocus pocus? Maybe.

Closing hour could get interesting if bulls can't hold the NDX 50 dma.

Could be, but NQ needs a close above 2300 first, and ES 1308. One step at a time. Until that happens, I'm not calling anything.

1308 now to close for comfort, I'm waiting.

might have to wait for Friday's new moon to get a heavy down day again...

6E 1.4416 is heavy resistance (61.8% long term).

Maybe, that gap at 1308 is a bit of a magnet. But NQ is weak, and that is usually a heads up on ES weakness. And CL kinda stuck under R2. Watching 94.62 support there.

If not, then 1307.75 is a short.

stopped even 98.75. Still think we will see 91.50/92 today, but did not want to risk it too much. I might regret that tight stop. Anyway, I'll probably pick up 92.

s lowered to even (98.75)