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Consolidating at lows, one more downside thrust is high odds.

ES closes yesterday's gap at 1204.75 as predicted. It sure took a while.

Shorting ETH session 3 point bracket at 1227.25. Trade is cancelled if not triggered by 1am PST.

Thanks LF. I have to say, it does leave me with major doubts, since ES did not fill its gap at 1204.75. In my experience, ES almost always ends up doing what NQ does. It came pretty darn close at 1207.50, but since NQ overshot lower than that, count me in the very cautious camp going into this...

Looks bullish to me. The only thing bothering me is that in terms of cycles, we should be correcting into Labor day, so I am not going to make a call one way or another. This could be a trap, we'll see. But technically, it is bullish that we made it back above the 2011 open and the 200 ema for NQ.

NQ 1 mn, with divergence at lows.

Thanks. I have stayed out of trouble by not committing either short or long, just hit and run. The tape is hard to read because the moves are so wide, it just boggles the mind. On top of it, to confuse matters even more, ZN is staying down, so cash is being taken out of treasuries. Are they...

sell program at NQ 2237. I'm getting dizzy. But again, no close above that, we will sell hard tomorrow.

Nice bounce, longer term once again looking to see if the markets can get a close above NQ 2237, the 200 ema. Bulls really needs this to happen. It did not happen yesterday and the rally died down. This is key, or we could finally get a real sell-off this week.

Huge drop in ZN. Covering all shorts. NQ 2221 is support. No longer sure ES will close that gap today. ZN really took a hit the last 5 mns.

Careful folks, NQ has closed the gap and gone negative. That puts a high odds of ES hitting 1205.

No longer short here, NQ tags 2231.75, which is 150% IB. That could be it, if ES holds 1215.50, 50%. Risk is still NQ 2227, but odds are not in favor of staying short now. If NQ does drop to close its gap at 2227, realize that ES could eventually do the same (1204.75). At the very least, it...

Targeting ES 1210.75.

I just might get my pit session gap after all (NQ 2227). Let's see how we do at 2234.

Here comes the second drop to retest NQ 2237/2240. Look for divergences to determine direction from there.

On TOS, if you put your cursor over the bar, the time it gives on the lower panel is the closing time for the previous bar. I find that confusing when I need to take a quick look. Example, I put my mouse on the 4:00 pm 1 mn bar for TOS, I get a close of 2234. The actual close at 4:00pm is 2236...

I stand corrected, I was looking at the next 1 mn bar. However, the 4:00 1 mn closing bar is 2236, not 2238. If you are using TOS, it shows the open bar. One reason I do not use that platform. I have always worked with the pit session close (4:15), but in this case the cash close does line up...

You just summarized the tea party. They want Armageddon. Note that they were nowhere to be found when the previous administration spend trillions and raise the debt ceiling multiple times. Politics and trading do not mix, as I told my liberal friends when they could not believe the Bush rally...

Not really, that one is at 2230.50, low is so far is 2237.75. In any case, I always use the future's pit session close which is 4:15.

Filling the morning gaps would mean NQ losing the 200 ema at 2237 (which just was support). Not sure that is really in teh cards, but let's see how we act at ETH high of 2250.50.